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In September 2022, Abpro entered in to under a Collaboration Agreement with with Celltrion Inc. (“Celltrion”) (KRX:068270), a leading Korean biopharmaceutical company headquartered in Incheon, South Korea . Under this collaboration, our lead candidate ABP-102 is being developed and commercialized through a worldwide strategic partnership with Celltrion. Our company received single digit million dollars of upfront payment and is eligible for net sales milestone payments of up to $1.75 billion and development milestone payments of up to $8.0 million, Abpro also received an equity investment from Celltrion in connection with this agreement. Abpro is responsible for certain in vitro pre-clinical work, and Celltrion is responsible for in vivo preclinical work, CMC, clinical development and commercialization on a worldwide basis.

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