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177

AbClon Issuance of Perpetual CBs and CPSs worth 36 Billion K…

Five Biotech-Focused VCs Participate: DSC Investment, Paratus Investment, Dongyu Investment, AlphaView Partners, and Winbest Venture Investment   The next-generation blood cancer CAR T-cell therapy, 'Nespe-cel ' is highly evaluated for its  possibility of accelerated market approval, and the innovative solid tumor therapy, 'AT501 CAR T-cell new therapy', is also highly valued for its clinical and economic potential.   The increased feasibility for commercialization of AC101 (HLX22), which was licensed out to Henlius, also contributed to gaining investor confidence.   AbClon, an antibody drug development company, announced on the 1st that it has decided to issue 36 billion KRW worth of perpetual convertible bonds (CBs) and convertible preferred stocks (CPSs) through a third-party allotment. The issuance price is 18,223 KRW.   The perpetual CBs being issued by AbClon have a 30-year maturity and lack the bondholders' right of redemption, allowing them to be classified as equity for accounting purposes. The 25.2 billion KRW issuance is expected to increase the total capital—similar to an increase in paid-in capital—thereby achieving the effect of strengthening the equity base on the financial statements. The surface interest rate for this CB is 0%, meaning the company is securing interest-free financing. Essentially, investors in this CB are focused on the potential appreciation of AbClon's stock price rather than receiving interest income.   Additionally, the non-redeemable CPSs will be issued for 10.8 billion KRW. These CPSs are also treated as equity for accounting purposes, which contributes to the improvement of the financial structure.   An AbClon official emphasized, "The issuance of these perpetual CBs and CPSs involves financial instruments recognized as equity for accounting purposes, which has the effect of fundamentally improving the financial structure of our technology-specialized company."   The official added, "At a time when the issue related to the legal deficit and equity ratio has become a major concern for biotech firms, this investment will resolve that issue for AbClon."   The biotech-specialized VCs that participated in this investment are DSC Investment, Paratus Investment, Dongyu Investment, AlphaView Partners, and Winbest Venture Investment. These investment institutions have been recognized for their expertise in advanced bio-pharmaceuticals, including CAR T-cell therapies, within the domestic bio-healthcare sector.   An AbClon official stated, "This investment decision is the result of highly valuing both the possibility of early market approval for the developing next-generation blood cancer CAR T-cell therapy, 'Nespe-cel (AT101),' and the clinical and economic value of the innovative solid tumor therapy, the 'Switchable CAR T-cell therapy (AT501).'"   The official added, "In particular, the increased commercialization visibility of AC101 (HLX22), which was licensed out to Henlius—including its progression into global Phase 3 trials and receiving Orphan Drug Designation in the U.S. and Europe—also contributed to gaining investor confidence.   Currently, AbClon expects the success in CAR T-cell therapy development to lead to achievements in new drug development based on its bispecific antibody platform technology, 'AffiMab.' AffiMab is a bispecific antibody technology that utilizes Affibodies, which are about 25 times smaller than conventional antibodies. New drugs such as 'AM105' for colorectal cancer and 'AM109' for prostate cancer are under development, and the research for AM109 was supported by the Korea Drug Development Fund (KDDF)   Meanwhile, AbClon had previously licensed out the HER2-targeting antibody therapy, 'AC101' (HLX22), to China's Henlius in 2016 and 2018 for a total deal size of 56 million USD. The drug is currently undergoing global Phase 3 clinical trials for gastric cancer. Notably, after receiving Orphan Drug Designation from the U.S. FDA in March 2025, it was also granted the designation by the European Commission (EC) in May, thereby securing Orphan Drug status in both the U.S. and Europe.   

2025-10-01 9
176

AbClon's next-generation CAR-T therapy, 'Nespe-cel, has been…

AbClon's next-generation CAR-T therapy, 'Nespe-cel (AT101),' has been designated as a fast-track advanced biopharmaceutical by the Ministry of Food and Drug Safety (MFDS), the company announced on the 24th.   The MFDS granted the designation approximately two months after AbClon applied on July 23rd. The fast-track designation system allows the MFDS to prioritize the review of treatments for life-threatening or severe diseases that lack existing therapies or show significant potential for medical improvement. This designation provides AbClon with several benefits, including the assignment of a dedicated review team, a shortened review period, and the potential for partial exemption from clinical trial data requirements, which can significantly reduce the time needed to obtain product approval.   'Nespe-cel (AT101) is a domestically developed CAR-T therapy with a target of receiving product approval in 2026. It is being developed with support from the Korea Drug Development Fund (KDDF).   

2025-09-24 91
175

AbClon's Next-Generation CAR-T Therapy 'Nespe-cel' Designate…

On September 18, AbClon, a company specializing in antibody-based drugs, announced that its next-generation CAR-T cell therapy, Nespe-cel (AT101), was designated as an orphan drug in development by the Ministry of Food and Drug Safety (MFDS).   Nespe-cel (AT101) is a personalized treatment for patients with relapsed or refractory blood cancers. The process involves extracting a patient's T-cells, genetically modifying them with AbClon 's proprietary h1218 antibody to specifically target cancer cells, and then re-infusing them back into the patient.   Nespe-cel is attracting attention due to its exceptional therapeutic efficacy. Interim results from a Phase 2 clinical trial showed an objective response rate (ORR) of 94%, a significant improvement over the 52% ORR of existing treatments currently used in Korea. Additionally, the complete response rate (CRR) was 68%, demonstrating a markedly superior outcome compared to the 40% seen with the conventional therapy.   The core technological difference of Nespe-cel lies in AbClon's unique antibody and CAR-T technology. Unlike existing global CAR-T therapies that use the murine 'FMC63' antibody, AbClon has applied its self-developed, CD19-specific, humanized antibody, 'h1218'. The use of the h1218 antibody improves the drug's persistence and triggers a more powerful anti-cancer effect, securing a high level of technological competitiveness on the global stage.   Orphan drug designation in development by the Ministry of Food and Drug Safety (MFDS) is a system to support the creation of treatments for rare and intractable diseases with fewer than 20,000 patients in Korea. This designation allows significant benefits: The product license validity period is extended from 5 years to 10 years. Administrative advantages, such as simplified data submission, are granted during the application process. The exclusive data protection period for the new drug is extended from the previous 4-6 years to 10 years. These benefits increase development efficiency, secure market exclusivity, and give the company a competitive advantage in commercializing the drug.   According to the Korea Biotechnology Industry Organization, the global CAR-T cell therapy market was valued at $3.74 billion in 2023. It is projected to grow at an average annual rate of approximately 40% to reach $29 billion by 2029.   Specifically, CD19-targeted therapies held a market share of 74% in 2023, valued at $2.76 billion, and are expected to expand to $22 billion by 2029.   

2025-09-19 73
174

AbClon, HER2 Affibody Switchable CAR-T" U.S. Patent granted……

AbClon is making a move to dominate the untapped solid tumor CAR-T market, having completed its global patent portfolio, including in the U.S.   On the 17th, antibody drug development company AbClon announced that it has received a patent grant decision from the U.S. Patent and Trademark Office (USPTO) for its 'HER2 Affibody-based Switchable CAR-T Technology.'   With this, AbClon has secured exclusive technological rights in the world's largest pharmaceutical market, the U.S., following Korea, Canada, China, Japan, and Australia, with final registration also pending in Europe.   The newly patented technology is a 'Switchable' CAR-T, designed to activate immune cells targeting HER2-expressing cancer cells only when needed. This next-generation platform addresses the fundamental limitations of existing CAR-T therapies.   Currently, all seven FDA-approved CAR-T products are limited to blood cancers. Their T-cell receptors, which recognize cancer cells, are permanently bound, resulting in an 'always-on' state once injected into the body, where they are continuously active.   This can lead to severe side effects such as Cytokine Release Syndrome (CRS) and Immune effector Cell-Associated Neurotoxicity Syndrome (ICANS), and even attacks on healthy cells. Furthermore, because they only target a single antigen, their therapeutic effect diminishes if cancer cells develop resistance.   AbClon 's proprietary switchable CAR-T platform, 'zCAR-T,' is designed to require an intermediary 'switch molecule' instead of the CAR-T cells directly recognizing cancer cells. Much like an electrical switch, it allows the CAR-T cells to be turned on and off as needed.   AbClon has utilized the zCAR-T platform to develop its HER2 affibody-based switchable CAR-T technology, which is the core technology for its first zCAR-T candidate, 'AT501,' currently in preclinical development as a treatment for ovarian cancer.   AT501's switch molecule consists of two parts. One side, 'cotinine' (a metabolite of nicotine), binds to the CAR-T cell, while the other side, an 'affibody' (a small protein about 1/25th the size of a regular antibody), binds to cancer cells that express HER2.   This acts like a bridge between the cancer cell and the CAR-T cell. The switch molecule can be used to control the activation and proliferation of CAR-T cells and to change and regulate their targets. Additionally, if side effects occur, administration of the switch molecule can be stopped to immediately halt the CAR-T cell activity.   The HER2 targeted therapy market was valued at $8.9 billion in 2021 and is growing at an annual rate of 12%. Blockbuster drugs like Herceptin, Perjeta, and Enhertu form a market worth over $12 billion annually. However, most of these are based on monoclonal antibodies or ADCs, and a CAR-T approach is still in its early stages.   While several pharmaceutical companies like CARsgen and Adaptimmune Therapeutics are developing solid tumor CAR-T therapies, few possess a specialized switchable platform for HER2, which is drawing market attention to AbClon's differentiated technology.   An AbClon official stated, "The U.S. patent registration for our 'HER2 Affibody-based Switchable CAR-T Technology' will be a major catalyst for us to lead the charge in the untapped solid tumor CAR-T market. We have confirmed the potential for our switchable CAR-T platform, 'zCAR-T,' to expand beyond a single therapeutic agent into a platform-based business model, so we will be accelerating licensing agreements and joint development collaborations with multinational pharmaceutical companies."   Furthermore, while conventional CAR-T therapies are developed to directly target specific proteins on the surface of cancer cells, requiring a separate CAR-T for each cancer type, AbClon's zCAR-T platform allows for a single 'switchable CAR-T' to be created, with different switch molecules developed for each cancer type.   For example, a HER2-targeting switch can be used for HER2-positive breast cancer, and a different target switch can be used for ovarian cancer. Moreover, using multiple switch molecules simultaneously allows for multi-target attacks, which can overcome issues of immune evasion and resistance due to antigen loss in cancer cells.   

2025-09-17 66
173

AbClon, Expansion of AC101 Global Phase 3 Clinical Trial... …

AbClon announced on the 29th that AC101 (Henlius code name HLX22), a new antibody drug licensed to Henlius, is expanding its scope to breast cancer treatment, following that positive expectations on first-line treatment for gastric cancer have increased through global Phase 3 clinical trial. Henlius, in its interim business report on the 25th, announced that HLX22 is showing superior clinical effects compared to current standard treatments. The company is currently expanding a multinational Phase 3 clinical trial (MRCT) for the treatment of first-line HER2-positive gastric cancer (G/GEJ) and has expressed great anticipation.   HLX22 is an antibody therapy that targets a specific part of the HER2 protein. By attacking a different binding site from existing treatments, it enhances cancer cell death by increasing the internalization of the HER2 protein on the surface of cancer cells by 40-80%. According to Henlius, the combination therapy of HLX22 and trastuzumab significantly improved progression-free survival (PFS) and overall survival (OS) in gastric cancer patients.   At the median follow-up period of 28.5 months, the drug showed superior results in progression-free survival, overall survival, and duration of response compared to existing standard treatments. This is a significant advancement compared to existing treatments, which only showed 6.7 months for progression-free survival, 13.8 months for overall survival, and 6.9 months for duration of response. In the Phase 2 clinical trial, the HLX22-treated group showed reduction in the risk of disease progression or death by approximately 80%, with almost no reported side effects.   Phase 3 clinical trials for HLX22 are underway in the U.S., Europe, Japan, China, and Korea. The HLX22-GC301 study is being led by top leading clinicians in the global gastric cancer field. Professor Shen Lin of Beijing Cancer Hospital, Professor Jaffer A. Ajani of MD Anderson Cancer Center, and Professor Ken Kato of the National Cancer Center of Japan are participating as principal investigators.   This year, HLX22 received Orphan Drug Designation (ODD) in the U.S. and Europe. A Phase 2 clinical trial is currently underway for breast cancer with low HER2 expression (HER2-low/HR+), which will expand the indication from gastric cancer to breast cancer. The business report states that it could be launched overseas within three years from now, signaling the start of its global commercialization.   AbClon shall secure revenue through development stage milestones and commercialization royalties for HLX22. Henlius has set a sales target of $10 billion for HLX22.   An AbClon official said, "According to the Henlius business report for the first half of this year, HLX22 has shown excellent global clinical results in gastric cancer and is very close to commercialization after receiving Orphan Drug Designation in the U.S. and Europe." They added, "Commercialization may happen faster than expected, and the expanded application to breast cancer will be a major turning point." 

2025-08-29 268
172

Henlius Featured at the 2025 Evercore China Biotech Summit

Henlius Featured at the 2025 Evercore China Biotech Summithttps://www.henlius.com/en/NewsDetails-5425-26.html

2025-08-29 151
171

AbClon, Next-Generation Blood Cancer CAR-T Cell Therapy 'Nes…

AbClon announced on the 24th that it has applied to the Ministry of Food and Drug Safety (MFDS) for the designation to fast-track processing of its next-generation CAR-T cell therapy, 'Nespe-cel (AT101)', as an advanced biological product.   The application was based on the objective response rate (ORR) and complete response rate (CRR) confirmed in the interim analysis of its Phase 2 clinical trial. Nespe-cel showed an ORR of 94% and a CRR of 68% in the interim results of the Phase 2 clinical trial. These rates are 10 to 40 percentage points higher than the approval cases of global CAR-T cell therapies such as Novartis' Kymriah and Gilead's Yescarta.   The company stated, "The interim results prove AT101’s excellent efficacy even in relapsed/refractory blood cancer groups who did not respond to existing treatments," adding, "This is very significant because most of these patients were in difficult situations with no further treatment options in clinical practices."   Unlike global CAR-T therapies that use existing FMC63-based antibodies, Nespe-cel enhances efficacy and persistence by applying AbClon's independently developed CD19-specific humanized antibody. Furthermore, by optimizing antibody affinity, pharmacokinetic efficiency has also improved. The related research results have been published in the international journal, Molecular Cancer.   The Designation to Fast-Track processing is a system in which the MFDS prioritizes the review of advanced biological products for treatments of severe life-threatening diseases for which there are no existing treatments or there is a significant achievement of medical improvement. If designated, companies receive benefits such as dedicated officials for review, shortened review periods, and partial exemption from clinical trial data, which can dramatically shorten the time until product approval. AbClon aims to obtain domestic product approval in the second half of next year by actively utilizing the customized review and pre-consultation systems.   Overseas commercialization is also accelerating. In Turkey, the biopharmaceutical company TCT is in the process of process development for local commercialization after receiving Nespe-cel technology transfer from AbClon. In Korea, Chong Kun Dang has secured priority for commercialization in Korea and continues its partnership.   Lee Yoon, Director of AbClon's Clinical Research Institute, stated, "Nespe-cel is showing groundbreaking results, presenting a new treatment option for critically ill patients who have failed existing treatments." He added, "Through priority review designation, we will provide treatment opportunities to patients more quickly."   Meanwhile, AbClon is also accelerating the development of a switchable CAR-T (zCAR-T) platform targeting solid tumors for future indication expansion. Through this, the company is pursuing both securing technological leadership in the domestic and international immune cell therapy market and global commercialization. 

2025-07-24 463
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