[Bio Story]③Sanghoon Lee, CEO of ABL Bio: "Short-Term Stock Boosts? Enhancing Fundamental Value Is the Answer"

Sanghoon Lee, CEO of ABL Bio, Interview ③


"Market Cooling Is Also Part of a Natural Cycle"

"Clear Establishment of Target Product Profile (TPP) Is Essential"

Amid a severe funding freeze in the domestic biotech investment market, Sanghoon Lee, CEO of ABL Bio, emphasized that only a rigorous clinical differentiation strategy and responsible business leadership by the management can secure the survival of biotechs. He made these remarks during an interview with The Asia Business Daily at the company’s headquarters in Gangnam-gu, Seoul, on the 26th of last month. He pointed out, "The success or failure of a company does not hinge on short-term stock price boosts or blind listings, but rather on fundamentally enhancing the qualitative value of its pipeline."

Lee Sanghoon, CEO of ABL Bio, is giving an interview to The Asia Business Daily at the company headquarters in Gangnam-gu, Seoul on the 26th of last month. Photo by Yoon Dongjoo

CEO Lee stated that the recent contraction in biotech venture investment is part of a broader capital market cycle. He said, "When I founded PharmAbcine in 2008, during the U.S. subprime mortgage crisis, the biotech market also went through a downturn, but it rebounded in the mid-2010s," adding, "The current investment drought is also a natural part of the cycle, and only companies that endure this period with steady preparation will be re-evaluated by the market in the future." He emphasized that instead of blaming a lack of funds, companies should reflect on whether they effectively leveraged the capital secured during past investment booms for growth.

As the key survival strategy, Lee cited the clear establishment of Target Product Profiles (TPP) and thorough differentiation at the clinical stage. He stressed, "Vague claims like 'we are the only ones developing this worldwide' do not work; instead, it must be demonstrated through preclinical and clinical data that the efficacy surpasses existing drugs or that the toxicity profile is safer." From the early stages of new drug development, it is essential to establish a Target Candidate Profile (TCP) by analyzing cell-level efficacy, pharmacokinetics (PK) in animal models, and maximum non-toxic doses. Based on this, a TPP—serving as a market entry strategy in the clinical phase—should be constructed.

The gastric cancer bispecific antibody ‘ABL111,’ currently under development by ABL Bio, is the result of such a meticulous strategy. CEO Lee explained, "While competitors are entering the second-line treatment market with antibody-drug conjugates (ADCs), ADCs are highly toxic and thus have limitations as first-line therapies. We are targeting the first-line therapy market directly by combining ABL111 with standard immuno-oncology and chemotherapy agents." He added, "ABL111 focuses on activating memory T cells, dramatically extending response duration compared to existing therapies, while lowering toxicity, thereby differentiating its clinical value."

He repeatedly underscored that executing such complex strategies and leading the organization falls entirely on the CEO’s shoulders. Lee stated, "After going public, companies have the opportunity to use the raised funds to continuously upgrade their pipelines and platforms. If these are not transformed into a portfolio for growth, the company will inevitably fall behind." He asserted, "It is no exaggeration to say that the fate of a biotech company depends 100% on the CEO’s competence and responsibility. If one becomes preoccupied with short-term stock prices and tries to exploit external issues with ulterior motives, it will ultimately lead to failure. Only by accumulating objective clinical records and decisively pivoting the business direction when necessary can a company earn the market’s trust."

This content was produced with the assistance of AI translation services.