ABION achieved a ceiling price immediately after the market opened on the 24th, following news that it had signed a joint development contract valued at 1.8 trillion won.
As of 9:01 a.m. on that day, ABION recorded a ceiling price of 5,850 won, up 1,345 won (29.86%) from the previous transaction.
ABION announced that it had signed a joint development and licensing agreement for the new anti-cancer drug candidate "ABN501" on that day. ABN501 is a targeted innovative antibody treatment for claudin 3 (CLDN3) that shows antibody-dependent cellular cytotoxicity (ADCC) activity against cancer cells. It has the advantage of being able to develop therapeutics against multiple cancer types utilizing various platform technologies such as antibody-drug conjugates (ADCs) and bispecific antibodies.
ABION has agreed to jointly develop technologies for four protein-targeting antibodies besides CLDN3 in this contract. ABION will handle non-clinical research, while the collaborating corporations will manage other research, development, and commercialization. The licensing for ABN501 will be exclusively held by the contracting company. The total contract amount is $1.315 billion (approximately 1.8 trillion won).