ABL Bio, a Korean biotech company, said it received 75 million (about 91 billion won) upfront payment from Sanofi as part of the licensing agreement for ABL301, an antibody targeting alpha-synuclein and IGF1R to treat degenerative brain diseases, including Parkinson's disease.

In January, ABL Bio signed a $1,060 million deal with Sanofi for joint development and licensing of ABL301 that includes $75 million upfront and $45 million in milestones. Under the agreed terms, Sanofi paid $75 million to ABL Bio on Feb. 25, after the U.S. antitrust HSR clearance.

Utilizing the Grabody-B platform, ABL301 improved therapeutic effects by delivering antibodies, which inhibit the accumulation of alpha-synuclein in the brain, into the brain effectively, ABL Bio said.

The Grabody-B platform is an IGF1R targeting blood-brain barrier (BBB) shuttle platform that maximizes BBB penetration of the drug candidate for various central nervous system (CNS) diseases.

ABL Bio CEO Lee Sang-hoon said the two companies’ partnership for innovative drug development began in earnest.

“The pre-clinical trial for a U.S. study of ABL301 is progressing smoothly. ABL Bio will continue to help patients live a better life by developing various treatments with the Grabody-B platform for degenerative brain diseases,” he said.