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Abpro Bio Announces $1.1 Billion Deal for Asian Rights to Two Abpro Bi-specifics

publication date: Mar 3, 2020

Abpro Bio, a Korean company, announced a $1.1 billion agreement to acquire Asian rights (including China) to two bispecific antibody candidates being developed by Abpro of Boston. Abpro Bio, known previously as Ugint, manufactures precision machine tools and was not involved in biopharma. It made a $30 million equity investment in Abpro and will be responsible for more than $1 billion in milestones and royalties. ABP-100 targets HER2 and CD3 to treat HER2+ solid tumors. ABP-201, with an angiogenesis mechanism, targets VEGF and ANG2 to treat vascular diseases of the eye. More details....

Stock Symbol: (KOSDAQ: 195990)

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