ABL Bio Secures $55 Million in R&D Funding to Accelerate Grabody Platform Expansion
Written by Emily J. Thompson, Senior Investment Analyst
Updated: 1h ago
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Source: PRnewswire
- Funding Support: ABL Bio has secured $55 million in R&D funding, including a $40 million upfront payment and a $15 million equity investment, which will significantly accelerate the development of its Grabody platform, particularly in expanding indications for high unmet need areas such as obesity and muscle disorders.
- Deepening Collaboration: In partnership with Eli Lilly, ABL Bio is conducting joint research on multiple therapeutic candidates, planning to leverage the newly secured funding to enhance collaboration and advance the development of bispecific antibodies and dual payload ADCs.
- Clinical Development Advancement: ABL Bio is advancing several clinical projects across eight pipelines in the U.S., China, Australia, and Korea, with ABL001 (tovecimig) receiving Fast Track designation from the FDA, indicating strong market potential.
- Long-term Strategy: By signing a $2.602 billion agreement with Lilly, ABL Bio not only secures immediate funding but also explores extensive collaborative opportunities for future therapy development, thereby enhancing its competitive position in the market.
ABL
$8.52+Infinity%1D
Analyst Views on ABL
Wall Street analysts forecast ABL stock price to rise over the next 12 months. According to Wall Street analysts, the average 1-year price target for ABL is 12.17 USD with a low forecast of 9.00 USD and a high forecast of 14.00 USD. However, analyst price targets are subjective and often lag stock prices, so investors should focus on the objective reasons behind analyst rating changes, which better reflect the company's fundamentals.
3 Analyst Rating
3 Buy
0 Hold
0 Sell
Strong Buy
Current: 8.420
Low
9.00
Averages
12.17
High
14.00
Current: 8.420
Low
9.00
Averages
12.17
High
14.00
About ABL
Abacus Global Management, Inc. is a financial services company specializing in alternative asset management, data-driven wealth solutions, technology innovations, and institutional services. The Company’s segments include Asset Management, Life Solutions and Technology Services. The Asset Management segment provides asset management services to primarily institutional investors alongside private clients investing in uncorrelated and longevity-based assets, fixed-income replacement strategies and free cash flow based investment solutions. It also provides policy servicing activities to customers on a contract basis. The Life Solutions segment is engaged in buying, selling, and trading policies, and maintaining policies until receipt of death benefits. The Technology Services segment provides real-time mortality verification, missing participant verification, and other services specific to the life insurance market services to customers on a contract basis.
About the author
Emily J. Thompson
Emily J. Thompson, a Chartered Financial Analyst (CFA) with 12 years in investment research, graduated with honors from the Wharton School. Specializing in industrial and technology stocks, she provides in-depth analysis for Intellectia’s earnings and market brief reports.
