ABLYNX AND REMYND SETTLE DISPUTE AMICABLY
(Thomson Reuters ONE) -
GHENT and LEUVEN, Belgium, 2 June 2010 - Ablynx NV [Euronext Brussels: ABLX] and
reMYND NV announced today that they have reached a settlement concerning a
dispute relating to a collaboration agreement to discover and commercialize new
Nanobodies(®) which Ablynx and reMYND entered into in 2003.
In 2007, Ablynx was notified by reMYND that a difference of interpretation
existed in respect of Ablynx's contractual obligation to reMYND under the 2003
agreement. Under this agreement, Ablynx had the obligation to pay reMYND 50% of
any income received if certain Nanobodies from the above collaboration were
licensed to a third party for development and commercialization. Ablynx has a
collaboration with Boehringer Ingelheim in the area of Alzheimer's disease with
a potential deal value of $265 million plus royalties, under which, at this
time, it believes, in contrast to reMYND, that no license to develop or
commercialize any of the aforementioned Nanobodies has been granted.
In order to amicably resolve the dispute, Ablynx and reMYND have signed a
settlement agreement which terminates the 2003 agreement and under which reMYND
could receive up to ?2 million in payments based on successful achievement of
milestones in Ablynx's Alzheimer's collaboration with Boehringer Ingelheim, as
well as a 1% royalty on sales of any products potentially arising from this
collaboration.
Dr Edwin Moses, CEO and Chairman of Ablynx, commented: "We are pleased that we
have amicably resolved our differences with reMYND." Koen De Witte, Managing
Director of reMYND, added: "It is good that we have this behind us, and can now
focus on the future".
-ends-
For more information, please contact
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(at)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(at)ablynx.com
reMYND:
Koen De Witte
Managing Director
t: +32 (0)16 751416
e: koen.de.witte(at)remynd.com
An Tanghe
CRO Manager
t: +32 (0)16 751422
e: an.tanghe(at)remynd.com
[HUG#1421228]
Complete version of the press release: http://hugin.info/137912/R/1421228/370555.pdf
Unternehmensinformation / Kurzprofil:
Datum: 02.06.2010 - 18:00 Uhr
Sprache: Deutsch
News-ID 21889
Anzahl Zeichen: 0
contact information:
Town:
Ghent
Kategorie:
Business News
Diese Pressemitteilung wurde bisher 190 mal aufgerufen.
Die Pressemitteilung mit dem Titel:
"ABLYNX AND REMYND SETTLE DISPUTE AMICABLY"
steht unter der journalistisch-redaktionellen Verantwortung von
Ablynx (Nachricht senden)
Beachten Sie bitte die weiteren Informationen zum Haftungsauschluß (gemäß TMG - TeleMedianGesetz) und dem Datenschutz (gemäß der DSGVO).
