ABL Bio said that it would co-develop new bispecific antibodies with Genscript, a global contract development and manufacturing organization (CDMO) company. The two companies have also signed a license partnership agreement.

Through this licensing partnership, ABL Bio will license out Genscript's single-domain antibodies, monoclonal antibodies, and single-domain antibody applied to monoclonal antibody platforms to target tumor antigens. ABL Bio will receive down payments, milestones, and royalties due to the contract.

"Genscript has been growing rapidly in recent years and has made remarkable achievements in the research and development of antibody therapeutics," ABL Bio CEO Lee Sang-hoon said. "Genscript's SMAB platform, with its superior properties and streamlined production processes, will help the company further expand its development into its bispecific antibody pipeline."

Genscript CEO Brian Min also said, "We are pleased to partner with ABI Bio, a leader in bispecific antibodies. Our extensive experience and R&D services, recognized by multinational pharmaceutical companies, will be of great help in accelerating the development of new antibody drugs for ABI Bio."