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Stock impact report

Deal With Eli Lilly Propels Founder Of Korean Biotech Firm Into Billionaire Ranks [Forbes]

Sanofi - American Depositary Shares (SNY) 
US:NYSE Investor Relations: sanofi.com/en/investors
Company Research Source: Forbes
$2.6 billion licensing and joint research deal with Eli Lilly boosted shares of South Korean biotech company ABL Bio by about 80% over the past week. The stock surge has made Lee Sang-hoon, the company's founder and CEO, South Korea's newest billionaire. Lee, a 62-year-old U.S. citizen, is the largest shareholder of ABL Bio with a 23% stake in his own name worth $1.5 billion, after accounting for pledged shares. (His wife, Yoo Ju-hee, and son, Lee Jin-young, also own tiny stakes in the company.) Based in Seoul's upscale Gangnam neighborhood, ABL Bio has a portfolio of bispecific antibodies, which target two antigens simultaneously to improve treatment outcomes for cancer and neurodegenerative diseases such as Alzheimer's and Parkinson's. The deal with Eli Lilly, which was announced last week, was for licensing and jointly developing new therapies using ABL Bio's Grabody-B, a blood-brain barrier-penetrating bispecific antibody technology. Grabody-B transports medicines across the Show less Read more
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