South Korea (SK)-based biotechnology research company ABL Bio Inc. has bought rights to use Chinese pharmaceutical preparation manufacturing company WuXi Biologics' discovery platforms in a $220 million deal.
ABL Bio will use WuXi's WuXiBody and CD3 platforms to develop multiple bispecific antibodies including new bispecific antibodies that target a novel immune checkpoint receptor.
WuXi Biologics will receive the $220 million in a combination of upfront and milestone payments, and will also be paid royalties on any commercialized products from the collaboration.
The new collaboration extends an existing agreement between ABL BIo and WuXi Biologics announced in November 2018.