NOVARTIS OBTAINS LICENSES TO DEVELOP AND COMMERCIALISE TWO NOVEL NANOBODIES®
(Thomson Reuters ONE) -
GHENT, Belgium, 12 July 2010 - Ablynx [Euronext Brussels: ABLX] announced
today that Novartis has obtained licenses to further develop and commercialise
Nanobodies against two complex targets. This has triggered a total of ?1 million
in upfront fees and license payments to Ablynx.
The two targets were the subject of programmes as part of the research agreement
between the parties, entered into in 2005 and extended by mutual agreement last
year. Novartis will now assume responsibility for the continued progress of both
programmes and Ablynx will be eligible to receive development based milestone
payments and royalties on sales following commercialisation of the products.
Dr Edwin Moses, CEO and Chairman of Ablynx, commented: "We are excited to see
these two complex programmes progressing towards the clinic in Novartis' hands
and pleased that the commercial licenses have been executed. The targets are
ones where conventional antibody approaches have had limited success. This is
further validation of the unique nature of Ablynx's Nanobody platform, where
functional Nanobodies have been successfully generated against GPCRs and ion
channels. Earlier this year, we announced that we have selected a new GPCR
targeting development candidate, ALX-0651, an anti-CXCR4 Nanobody which is being
developed by Ablynx."
-ends-
About Ablynx [Euronext Brussels: ABLX] - http://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 240
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 including four Nanobodies in clinical development.
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
[HUG#1431149]
Complete version of the press release: http://hugin.info/137912/R/1431149/377662.pdf
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Source: Ablynx via Thomson Reuters ONE
Unternehmensinformation / Kurzprofil:
Datum: 12.07.2010 - 18:01 Uhr
Sprache: Deutsch
News-ID 23788
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