ABION's stock price recorded the upper limit in the early session on the 25th. This follows news that it signed a joint development contract worth 1.8 trillion won.
As of 9:39 a.m. on this day, ABION's stock is trading at 7,600 won, up 29.91% (1,750 won) compared to the previous trading day in the Korea Securities Dealers Automated Quotations (KOSDAQ) market.
The day before, ABION announced that it had signed a joint development and licensing agreement for the anticancer drug candidate ABN501 (targeting CLDN3 and four other proteins). According to the agreement, ABION will grant the other party an exclusive license for ABN501. The counterpart of the agreement has not been disclosed.
In this agreement, ABION has decided to jointly develop technology aimed at the antibodies targeting CLDN3 and four other proteins. ABION will be in charge of preclinical research, while the partner corporations will handle other research, development, and commercialization. The license for ABN501 will be held exclusively by the contracting company. The total amount of the contract is $1.315 billion (approximately 1.8 trillion won).