Ligachem Biosciences and Abion announced on the 30th that they have signed a joint research and technology transfer agreement for the iADC (immunocytokine-antibody drug conjugate) platform. The contract date is September 30, 2026, and the contract territory is worldwide.

■ Joint Research on iADC Combining ADC Technology Under this agreement, the two companies will jointly conduct research on iADC, created by applying Ligachem Biosciences' ADC (antibody-drug conjugate) platform technology to immunocytokine-antibodies based on Abion's interferon beta mutant (IFN-β mutein). iADC refers to an immunocytokine-antibody drug conjugate in which a payload is linked via a linker to the immunocytokine-antibody.

■ Up to 5 Targets, Exclusive Worldwide Development and Commercialization Under the contract, Ligachem Biosciences may designate up to five targets. Ligachem Biosciences secures exclusive rights to develop and commercialize iADCs for its designated targets worldwide, and the target designation rights take effect simultaneously with the contract's execution.

■ Contract Consideration Composed of Upfront Payment, Milestones, and Royalties The contract consideration consists of an upfront payment for the exclusive target designation rights; joint research advance payments and research milestones; milestones upon achieving research, development, approval, and commercialization stages for each designated target; and royalties based on net product sales. The specific contract amount and detailed terms were not disclosed under confidentiality clauses in the contract. Ligachem Biosciences agreed to pay all consideration within 45 days of receiving each invoice.

According to the companies' disclosures, the contract amount equals at least 10% of Ligachem Biosciences' equity capital of 541,120,311,269 won based on its 2025 consolidated financial statements, and at least 10% of Abion's revenue for the most recent fiscal year.

■ Prior Notice and Profit Sharing upon Technology Transfer to Third Parties If Abion pursues a technology transfer of the iADC to a third party, it must first notify Ligachem Biosciences and negotiate with it preferentially. If Abion receives proceeds from a third-party technology transfer, it will distribute a share of those proceeds to Ligachem Biosciences according to a pre-agreed ratio.

■ Royalty Payments Until the Latest Patent Expiry The two companies plan to sign a definitive agreement within 60 days after achieving certain milestones, and this contract remains valid even if the definitive agreement is not executed. The contract term runs from September 30, 2026, until the expiry of the royalty payment period for the last product. According to Abion's disclosure, the royalty payment period lasts for 10 years from the first commercial sale of each product in each country, or until the date on which the valid claims of Abion's technology patents protecting the product expire in that country, whichever comes later.

■ Conditional Contract… Possibility of Early Termination This is a conditional contract in which performance and revenue recognition may vary depending on research and development outcomes. The contract may be terminated early due to discontinuation of research or development, failure of clinical trials or product approval, and per-target milestone payments may not be triggered depending on research and development results.