On November 14, 2025, ABL Bio announced a broad strategic research and development alliance with Eli Lilly and Company, establishing a multi-program collaboration to advance next-generation therapeutics using ABL Bio’s Grabody Platform. Wilson Sonsini Goodrich & Rosati advised ABL Bio on the license, research, and collaboration agreement, which is valued at up to $2.602 billion, including a $40 million upfront payment. Through this partnership, ABL Bio and Lilly will jointly explore and develop multiple therapeutic modalities across a range of disease areas, marking a significant expansion of ABL Bio’s platform-driven global collaborations.

As part of the broader relationship, Lilly also agreed to make a strategic equity investment in ABL Bio. Under the terms of the investment agreement, Lilly will purchase 175,079 newly issued common shares at KRW 125,900 per share, for a total investment of KRW 22 billion. The closing of the investment is expected following clearance under the U.S. Hart-Scott-Rodino Antitrust Improvements Act and completion of customary administrative procedures. The shares will be subject to a one-year lock-up through the Korea Securities Depository.

The Wilson Sonsini team that advised ABL Bio on the transactions includes:

Technology Transactions
Ian Edvalson
Nguyen Pham

Corporate
Brian Appel
Katie Gu
Daniel Cho
Jinny Park

Antitrust and Competition
Michelle Yost Hale
Kim Biagioli

For more information, please see ABL Bio’s press release on its licensing agreement and its stock purchase agreement with Lilly.