LigaChem Biosciences (141080.KQ) has signed a joint research and technology introduction agreement with biotech firm Aebion (203400.KQ) to develop immune cytokine-antibody drug conjugates, or iADCs. The program will apply LigaChem Biosciences' antibody-drug conjugate platform to Aebion's interferon beta variant, IFN-β mutein. Unlike conventional ADCs, which use antibodies to deliver anticancer payloads to tumor cells, iADCs combine an antibody with both an immune-response-inducing cytokine and a payload. LigaChem Biosciences secured exclusive global development and commercialization rights for iADCs directed at up to five cancer-related biomarkers. The agreement provides for upfront and joint research payments, target-specific milestones and royalties. The contract value exceeds 10% of LigaChem Biosciences' equity capital of 541.1 billion Korean won as of the end of last year. Aebion must give LigaChem Biosciences priority negotiation rights if it transfers the iADC technology to a third party, with related revenue shared at a pre-agreed ratio. The companies plan to finalize a formal contract within 60 days after specified milestones are achieved.