- Backed by ABL Bio, a world leader in antibody engineering, NEOK is advancing a pipeline of differentiated bispecific antibody drug conjugates for a wide range of solid tumors

- Company plans to initiate clinical studies for two lead assets in mid-2026

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.

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