Eli Lilly signed a deal with Seoul‑based ABL Bio that includes $40 million upfront and up to $2.56 billion in milestone payments to access South Korean assets and platforms. The agreement grants Lilly rights to develop and commercialize ABL Bio candidates—terms and target areas were disclosed by Lilly—and forms part of Lilly’s broader strategy to source innovation internationally. Company announcements framed the pact as deepening Lilly’s R&D footprint in Asia and accelerating candidate advancement through Lilly’s global development capabilities. The upfront and biobucks structure underscores the continued use of milestone‑heavy partnerships to de‑risk early assets while securing option value.