NEOK Bio, a biotechnology company developing next-generation bispecific antibody drug conjugates (ADCs) for oncology, has launched from stealth mode with $75 million in Series A financing led by ABL Bio, a global leader in antibody engineering based in South Korea. The new capital will advance NEOK’s two lead bispecific ADC programs into clinical development, with first trials slated to begin in mid-2026.
Building on ABL Bio’s innovative ADC platform, NEOK is developing a pipeline of bispecific ADCs that combine dual-targeting selectivity with superior stability. The company’s approach utilizes a proprietary linker-payload technology known as SYNtecan E™, designed to improve linker stability, biophysical properties, and therapeutic efficacy. NEOK’s bispecific ADCs are engineered to simultaneously bind to two distinct cancer antigens, a strategy intended to enhance tumor targeting, reduce off-tumor toxicity, and broaden applicability across multiple solid tumor types.
The funding will enable NEOK to advance its first two clinical candidates: NEOK001 (formerly ABL206), which targets ROR1 and B7-H3, and NEOK002 (formerly ABL209), which targets EGFR and MUC1. Both programs focus on tumor-associated proteins commonly expressed in thoracic, gastrointestinal, and gynecological cancers with significant unmet medical needs. NEOK plans to file Investigational New Drug (IND) applications for both assets by early 2026, with Phase 1 trials expected to start in mid-2026 in the U.S. Initial clinical data readouts are anticipated in 2027.
With its Series A financing, NEOK aims to become a leading bispecific ADC company in the U.S., focused on overcoming long-standing limitations of conventional ADCs, including issues related to selectivity, stability, and therapeutic window. The company’s strategy centers on leveraging bispecific antibody design to enhance internalization and cell-killing efficiency while improving safety profiles for patients.
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“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. 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.”
Mayank Gandhi, Chief Executive Officer, NEOK Bio
“Our investment in the formation of NEOK Bio underscores our commitment to deliver transformative therapeutic innovation to the dynamic and growing ADC landscape. 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.”
Dr. Sang Hoon Lee, Chief Executive Officer, ABL Bio
