ABL Bio, Inc.

PALO ALTO, Calif.--(BUSINESS WIRE)--NEOK Bio, Inc., a biotechnology company focused on the development of novel antibody drug conjugates (ADCs) for improving outcomes for cancer patients, announced that it has emerged from stealth mode with $75 million in Series A financing. The company’s principal investor is ABL Bio, Inc., a leading Korean biotech company and a proven leader in antibody engineering. The funding will be used to advance two bispecific ADC programs into the clinic. The company aims to be a leading bispecific ADC company in the U.S. Leveraging ABL’s innovative ADC platform technology, NEOK is building a pipeline of bispecific ADCs by pursuing validated targets, while balancing high expression, selectivity, and target-related safety signals. NEOK utilizes a proprietary, linker-payload technology (SYNtecan E™) that enables ADC generation with strong linker stability and superior biophysical properties. The company aims to overcome the efficacy and safety limitations of conventional ADCs through its bispecific approach which targets unique pairs of cancer targets. “ADCs are a proven modality in treating select cancers, but historically have had limitations related to stability, selectivity, and therapeutic window. We believe our dual-targeting strategy has the potential to overcome drug resistance, target a wider range of tumors, increase internalization rates and cell killing, and improve the safety profile of ADCs by increasing selectivity and reducing off-tumor toxicity,” said Mayank Gandhi, Chief Executive Officer of NEOK Bio. “The financing is a critical step in our journey to a clinical-stage company and enables the execution of a robust and efficient clinical development plan for our bispecific ADCs.” “Our investment in the formation of NEOK Bio underscores our commitment to deliver transformative therapeutic innovation to the dynamic and growing ADC landscape,” said ABL Bio CEO Dr. Sang Hoon Lee. “We are excited to support an outstanding and experienced NEOK team as they aim to fulfill the significant untapped potential of bispecific ADCs to improve the lives of people with cancer.” The financing will support the initiation of clinical studies for NEOK’s two lead ADC candidates, which target proteins that are broadly expressed in multiple tumor types with significant unmet needs. They include NEOK001 (previously ABL206), a bispecific ADC targeting ROR1 and B7-H3, and NEOK002 (previously ABL209), a bispecific ADC targeting EGFR and MUC1 proteins. Both assets have the potential to demonstrate enhanced efficacy and safety over monovalent ADCs in large patient populations across thoracic, gastrointestinal, and gynecological cancers. NEOK plans to file an Investigational New Drug (IND) application for both programs by early 2026 and initiate Phase 1 clinical trials in mid-2026 in the U.S. First data readouts from both programs are expected in 2027. About NEOK Bio NEOK Bio, Inc. is a biotechnology company focused on the development of novel antibody drug conjugates (ADCs) that are designed to improve outcomes for cancer patients. NEOK is rapidly advancing bispecific ADCs which represent a cutting-edge advancement, leveraging bispecific antibodies that target two complimentary antigens, potentially improving safety while enhancing the efficacy of ADCs in a wider range of tumors. Backed by ABL Bio, Inc., a proven leader in antibody engineering, NEOK plans to initiate clinical studies for its two lead bispecific ADC candidates in solid tumor indications in mid-2026. For additional information, visit www.neokbio.com.

ABL Bio, a multi-partnered South Korean biotech, is backing a new Palo Alto, CA-based startup to carry forward two antibody-drug conjugates. NEOK Bio emerged on Tuesday with a $75 million Series A, with ABL Bio as its “principal investor.” It plans to advance two ADCs into the clinic in the US around the middle of 2026 and gather initial clinical data in 2027. The experimental bispecific ADCs are NEOK001 (ABL206) and NEOK002 (ABL209). The first goes after ROR1 and B7-H3, and the second targets EGFR and MUC1 proteins. Both are expected to be tested across a variety of cancers, including thoracic, gastrointestinal and gynecological, the company said. ADCs have been a hot modality for the past few years in cancer drug development, with the promise of delivering potent medicines with fewer side effects than traditional chemotherapy. Other startups in the space have recently raised megarounds, including Tubulis’ $401 million Series C . “We believe our dual-targeting strategy has the potential to overcome drug resistance, target a wider range of tumors, increase internalization rates and cell killing, and improve the safety profile of ADCs by increasing selectivity and reducing off-tumor toxicity,” NEOK CEO Mayank Gandhi said in a press release. ABL is partnered with GSK , Sanofi, I-Mab ( now NovaBridge Biosciences ) and others.

Backed by Korean biotech ABL Bio, NEOK Bio emerged from stealth on Tuesday with a $75-million series A to advance a pair of bispecific antibody-drug conjugates (ADCs) for thoracic, gastrointestinal and gynaecological cancers. Designed with ABL's linker-payload technology, the assets are intended to have improved stability and "superior biophysical properties." By targeting two cancer markers, NEOK believes its experimental treatments can offer safer, more efficacious treatments than currently approved ADCs. "ADCs…historically have had limitations related to stability, selectivity, and therapeutic window," said NEOK CEO Mayank Gandhi in a company release. "We believe our dual-targeting strategy has the potential to overcome drug resistance, target a wider range of tumours, increase internalisation rates and cell killing, and improve the safety profile of ADCs by increasing selectivity and reducing off-tumour toxicity." The startup's bispecific ADC pipeline includes NEOK001 (previously ABL206), which targets ROR1 and B7-H3, and NEOK002 (previously ABL209), directed against both EGFR and MUC1 proteins. The assets were transferred from ABL, which is a majority shareholder in NEOK.NEOK is aiming to submit IND applications to the FDA in early 2026, and start Phase I trials for both programmes in mid-2026. Initial data could come as soon as 2027.