ABLYNX – Nanobody Candidate Selected by Boehringer Ingelheim for Development
GHENT, Belgium - Ablynx [Euronext Brussels: ABLX] today announced that Boehringer Ingelheim has selected a Nanobody candidate for development. This is the first development candidate emerging from the strategic alliance which the companies entered into in 2007, and will result in a €5 million milestone payment to Ablynx.
Ablynx and Boehringer Ingelheim entered into an agreement in September 2007 to collaborate on the discovery, development and commercialisation of Nanobody therapeutics across a range of areas including for example immunology, oncology and respiratory diseases. The agreement allows for potential milestone payments of up to €125 million plus royalties to Ablynx for each Nanobody developed. Boehringer Ingelheim is exclusively responsible for the development, manufacture and commercialisation of any products resulting from the collaboration. Ablynx retains certain co-promotion rights in Europe.
"We are delighted to see this first lead programme progressing into development, just over three years since we entered into this collaboration with Boehringer Ingelheim," said Dr Edwin Moses, CEO and Chairman of Ablynx. He added: "We are particularly pleased as this Nanobody candidate represents a promising new and innovative approach to potentially expand treatment options for cancer patients."
About Ablynx [Euronext Brussels: ABLX] (www.ablynx.com)
Founded in 2001 in Ghent, Belgium, Ablynx is a biopharmaceutical company focused on the discovery and development of Nanobodies, a novel class of therapeutic proteins based on single-domain antibody fragments, for a range of serious and life-threatening human diseases. The Company currently has over 250 employees. Ablynx completed a successful IPO on Euronext Brussels [ABLX] on 7 November 2007 and raised €50 million through an SPO in March 2010.
Ablynx is developing a portfolio of Nanobody-based therapeutics in a number of major disease areas, including inflammation, thrombosis, oncology and Alzheimer's disease. Ablynx now has over 25 programmes in its therapeutic pipeline and there are five Nanobodies in clinical development. So far, Nanobodies have been successfully generated against more than 220 different protein targets including several complex targets such as chemokines, GPCRs, ion channels and viruses, which are typically very difficult to address with conventional monoclonal antibodies.