ABLYNX SIGNS EXCLUSIVE LICENSE AGREEMENT WITH EDDINGPHARM TO DEVELOP AND COMMERCIALISE ITS ANTI-RANKL NANOBODY IN GREATER CHINA
(Thomson Reuters ONE) -
GHENT, Belgium, 18 October 2013 - Ablynx [Euronext Brussels: ABLX] today
announced that it has granted an exclusive, royalty-bearing license to
Eddingpharm, a leading Chinese specialty pharmaceutical company, to develop and
commercialise its anti-RANKL Nanobody, ALX-0141, in the mainland of the People's
Republic of China, the Hong Kong and Macao Special Administrative Regions, and
Taiwan, for all indications, including osteoporosis and bone metastases.
Under the terms of the agreement, Eddingpharm will be responsible for the
clinical development, registration and commercialisation in Greater China of
anti-RANKL Nanobody therapeutics. Ablynx will have access to the data generated
by Eddingpharm to support potential licensing discussions in other geographic
regions.
Ablynx will receive a ?2 million upfront payment from Eddingpharm and is
entitled to receive commercial milestone payments plus tiered, double-digit
royalties of up to 20%, based on annual net sales of ALX-0141 generated by
Eddingpharm in Greater China.
ALX-0141 is a bivalent bi-specific therapeutic molecule composed of two
Nanobodies targeting the Receptor Activator of Nuclear factor Kappa-B Ligand
(RANKL). This bivalent anti-RANKL construct is linked to a Nanobody that binds
to human serum albumin, extending the drug's in vivo half-life, and which may in
turn lead to preferential targeting of diseased tissue. A Phase I study in
healthy post-menopausal women showed that a single administration of ALX-0141
has a strong and very long lasting inhibitory effect on bone resorption
biomarkers and was well tolerated with no serious adverse events or dose-
limiting toxicity being observed.
Dr Edwin Moses, Chairman and CEO of Ablynx added:
"Eddingpharm is well-positioned to further develop and commercialise ALX-0141 in
Greater China, which represents a rapidly growing area for bone related
disorders. Our Nanobody has strong potential in this market, with very good
efficacy, as measured by biomarkers, and a clean safety profile, and we look
forward to collaborating with Eddingpharm and supporting them to move the
programme further in development and beyond."
Mr Ni Xin, Founder, Chairman and CEO of Eddingpharm commented:
"We are very pleased that Ablynx has entrusted Eddingpharm to develop and
commercialise its anti-RANKL Nanobody in Greater China. Together with Ablynx, we
are committed to bringing this innovative medicine to millions of patients in
the region. This partnership represents a key milestone towards our goal of
establishing Eddingpharm as the partner of choice in China for biotechnology
companies around the world."
The osteoporosis and bone metastasis market in China
The global market for drugs to treat osteoporosis is expected to reach $11.4
billion in 2015, increasing at a compound annual growth rate (CAGR) of 9.2% over
the period 2010 to 2015, according to a recent report published by Transparency
Market. The study also expects the market in China for osteoporosis treatments
to grow at a CAGR of 13.5% from 2010 to 2015 to reach $2.5bn in 2015. Increased
prevalence of osteoporosis among the Chinese female population is the principal
growth driver of this drug sector. The other key growth drivers for the Chinese
osteoporosis market include the increasing elderly aged population, rising
living standards of the Chinese people and increasing awareness and bone health
education. According to Global Data, the global market for bone metastasis is
expected to grow to $6.4 billion in 2017 with China counting for approximately
22% of the global market.
About Ablynx
Ablynx is a biopharmaceutical company engaged in the discovery and development
of Nanobodies(®), a novel class of therapeutic proteins based on single-domain
antibody fragments, for a range of serious human diseases, including
inflammation, haematology, oncology and pulmonary disease. Today, the Company
has approximately 25 programmes in the pipeline and six Nanobodies at clinical
development stage. Ablynx has on-going research collaborations and significant
partnerships with major pharmaceutical companies including AbbVie, Boehringer
Ingelheim, Eddingpharm, Merck & Co, Merck Serono and Novartis. The Company is
headquartered in Ghent, Belgium. More information can be found on
www.ablynx.com.
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
Marieke Vermeersch
Associate Director Investor Relations
t: +32 (0)9 262 00 82
m: +32 (0)479 49 06 03
e: marieke.vermeersch(at)ablynx.com
Media relations for Ablynx: Consilium Strategic Communications
Mary-Jane Elliott, Amber Bielecka, Lindsey Neville
t: +44 207 920 2345
e: ablynx(at)consilium-comms.com
Pdf version of the press release:
http://hugin.info/137912/R/1736456/581932.pdf
This announcement is distributed by Thomson Reuters on behalf of
Thomson Reuters clients. The owner of this announcement warrants that:
(i) the releases contained herein are protected by copyright and
other applicable laws; and
(ii) they are solely responsible for the content, accuracy and
originality of the information contained therein.
Source: Ablynx via Thomson Reuters ONE
[HUG#1736456]
Unternehmensinformation / Kurzprofil:
Datum: 18.10.2013 - 07:30 Uhr
Sprache: Deutsch
News-ID 307014
Anzahl Zeichen: 6255
contact information:
Town:
Ghent/Zwijnaarde
Kategorie:
Business News
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