Abpro Finalizes Strategic Partnership with Celltrion for Worldwide Development and Commercialization of a Cancer Treatment Bispecific Antibody

Abpro, a biotech company with the mission of improving the lives of mankind facing severe and life-threatening diseases with next-generation antibody therapies, announced a strategic partnership with Celltrion, a biopharmaceutical company headquartered in Incheon, South Korea, today, for its cancer molecule ABP 102, an antibody therapy for patients suffering from HER2+ cancer, including breast, gastric, and pancreatic cancer. Through this global partnership, Abpro will receive payments from Celltrion of up to $1.75 Billion, including an equity investment, development and commercial milestone payments and worldwide profit sharing. Celltrion will be in charge of the development of ABP 102 following the completion of in vitro studies by Abpro and will have world-wide commercialization rights. HER2+ type cancer is implicated in up to 30% of all cases in breast, gastric, pancreatic, and other forms of cancer.

“We are thrilled to be able to enter this collaboration with Celltrion and are excited to work with such an excellent partner on bringing this treatment to market. Through our commitment to patients, we strive to enable them to live life to the fullest, and this collaboration with Celltrion, a world class pharmaceutical company, will help us meet that goal,” said Ian Chan, co-founder and CEO of Abpro. “This is a significant validation of our technology platform and also our pipeline of t-cell engagers. We aim to deliver therapies to help patients facing severe disease that leads to a better quality of life.”

“Abpro’s ABP 102 molecule has shown preliminary data of better efficacy and less toxicity compared to other therapies treating the same indication,” said Dr. Sooyoung Lee, VP and head of the new drug research division of Celltrion. “We are confident this partnership will allow us to deliver the best possible care to patients suffering from HER2+ cancer. Abpro’s platform looks highly promising and potentially best-in-class. Together, we will go great lengths to ensure people live longer, healthier lives.”