Ablynx Achieves First Milestone From Novo Nordisk
Ablynx recently announced it has achieved an initial discovery milestone with a multi-specific Nanobody construct as part of its collaboration with Novo Nordisk, triggering a €1 million milestone payment to Ablynx.
Under the terms of the agreement with Novo Nordisk, signed on November 25, 2015, Ablynx received an upfront license fee of €5 million and will receive up to €4 million in research funding during the initial 3-year research term of the collaboration. In addition, Ablynx is eligible to receive potential development, regulatory, and commercial milestone payments of up to €182 million plus tiered royalties on the annual net sales of any products resulting from the collaboration. Novo Nordisk is responsible for the development, manufacturing, and commercialization of any products resulting from this agreement.
“Our proprietary Nanobody technology platform is ideally suited to develop multi-specific Nanobody candidates that address multiple targets in a single drug molecule. The achievement of our first milestone just 1 year after we entered into the collaboration with Novo Nordisk is an endorsement of the power of our platform to rapidly generate novel, potent drug candidates against disease targets, which are difficult to address with other technologies. We are looking forward to further advancing the program and the Nanobody potentially progressing toward clinical studies in 2018,” said Dr Edwin Moses, CEO of Ablynx.
Ablynx is a biopharmaceutical company engaged in the development of Nanobodies®, proprietary therapeutic proteins based on single-domain antibody fragments, which combine the advantages of conventional antibody drugs with some of the features of small-molecule drugs. Ablynx is dedicated to creating new medicines, which will make a real difference to society. The company has more than 45 proprietary and partnered programs in development in various therapeutic areas, including inflammation, haematology, immuno-oncology, oncology, and respiratory disease. The company has collaborations with multiple pharmaceutical companies, including AbbVie, Boehringer Ingelheim, Eddingpharm, Genzyme, Merck & Co., Inc., Merck KGaA, Novartis, Novo Nordisk, and Taisho Pharmaceuticals. For more information, visit www.ablynx.com.
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