ABLYNX Receives Milestone Payment from NANOBODY® Discovery and Development Alliance - Gilde Healthcare

ABLYNX Receives Milestone Payment from NANOBODY® Discovery and Development Alliance

February 19, 2008

GHENT, Belgium – Ablynx [Euronext Brussels: ABLX], a pioneer in the discovery and development of Nanobodies®, a novel class of antibody-derived therapeutic proteins, announced today that it has received an undisclosed milestone payment from Novartis for an exclusive research license in one of the programmes that is a component of their ongoing Research and Development alliance.

Novartis and Ablynx are collaborating to discover and develop therapeutic Nanobodies® for a range of disease areas, against a number of targets that are difficult to address with conventional antibodies and their fragments.

The alliance was entered into in December 2005, and extended in December 2007 for a further year. Under the terms of this ongoing agreement, Ablynx receives upfront fees, license fees and funding for research and development. In addition, Ablynx will be eligible for milestone payments and royalties upon commercialisation. Novartis has exclusive rights to develop and commercialise the Nanobody® products resulting from the collaboration. Financial terms are not disclosed.

Edwin Moses, CEO and Chairman of Ablynx, commented:

“We are pleased to see this first Nanobody® programme from our collaboration with Novartis advancing to the next stage and to make progress in what is an important alliance for Ablynx.”

-ends-

For more information, please contact:

College Hill Life Sciences – for UK/International media enquiries:
Sue Charles, Justine Lamond, Holly Griffiths
t: +44 (0)20 7457 2020
f: +44 (0)20 7866 7900
e: ablynx@collegehill.com

Ablynx:
Dr. Edwin Moses
Chairman and CEO 
t: +32 (0)9 262 00 07
m: +44 (0)7771 954 193 / +32 (0)473 39 50 68
e: edwin.moses@ablynx.com

Eva-Lotta Allan
Chief Business Officer
t: +32 (0)9 262 00 75
m: +32 (0)475 78 36 21 / +44 (0)7990 570 900
e: eva-lotta.allan@ablynx.com

Gilde Healthcare invests in German precision surgical instruments contract manufacturer Koscher & Würtz

The acquisition of Koscher & Würtz represents a major step for Gilde Healthcare in forming a market leading instrument contract manufacturing group, following its initial investment in Chr. Diener, less than 18 months ago. Koscher...
November 20, 2023

Gilde Healthcare closes new Venture&Growth fund at €740 million hard cap

Gilde Healthcare Venture&Growth VI closes at its hard cap with €740 million from a balanced mix of international investors Gilde Healthcare invests in fast growing companies that enable better care at lower cost, supported by...
November 15, 2023

Gilde Healthcare company SpliceBio enters $216 million Gene Therapy collaboration with Spark Therapeutics

SpliceBio is eligible to receive upfront, opt-in and milestone payments up to $216 million plus royalties Spark secures exclusive worldwide rights to SpliceBio’s proprietary Protein Splicing platform to develop, manufacture, and commercialize a gene therapy...
October 17, 2023