ABLYNX ANNOUNCES SECOND EXTENSION OF ITS ION CHANNEL RESEARCH COLLABORATION WITH MERCK & CO., INC.
(Thomson Reuters ONE) -
GHENT, Belgium, 12 October 2016 - Ablynx [Euronext Brussels: ABLX; OTC: ABYLY]
today announced a second extension of its research collaboration with a
subsidiary of Merck & Co., Inc., Kenilworth, NJ, USA, known as MSD outside the
United States and Canada, to develop and commercialise Nanobody® candidates
directed towards an undisclosed voltage gated ion channel.
The extension agreement will trigger a ?1 million milestone payment to Ablynx,
and Merck will extend their funding of the research collaboration at Ablynx to
September 2018.
The ion channel collaboration was announced in October 2012 and included a ?6.5
million upfront payment and ?2 million in initial research funding. In March
2015, the Company announced a first extension of the research term to September
2016.
Dr Edwin Moses, CEO of Ablynx, commented: "We are pleased that Merck will, for
the second time, extend the research term of our current ion channel
collaboration. This decision is based on the very encouraging progress we made
in the discovery of Nanobodies against this challenging target and builds on the
competitive advantage of our proprietary Nanobody platform in the generation of
innovative therapeutic candidates against target classes that have proven
difficult to address with conventional antibody technologies."
About the ion channel collaboration between Ablynx and Merck & Co., Inc.
In October 2012, Ablynx and a subsidiary of Merck & Co, Inc. entered into a
collaboration to develop and commercialise Nanobody candidates directed towards
a voltage gated ion channel, with the option to develop and commercialise a
Nanobody to a second target. Under the terms of the agreement, Merck gains
exclusive global rights to Nanobodies against the selected target, with an
option for similar rights to a second target. Upon signing, Merck paid Ablynx a
?6.5 million upfront payment. In addition, Ablynx is eligible to receive
research funding (extended now twice) and up to ?448 million in research,
regulatory and commercial milestone payments associated with the progress of
multiple candidates, as well as tiered royalties on any products derived from
the collaboration. Ablynx is responsible for the discovery of Nanobody
candidates and Merck is responsible for the research, development, manufacturing
and commercialisation of any Nanobody product resulting from the collaboration.
About Ablynx
Ablynx is a biopharmaceutical company engaged in the development of Nanobodies®,
proprietary therapeutic proteins based on single-domain antibody fragments,
which combine the advantages of conventional antibody drugs with some of the
features of small-molecule drugs. Ablynx is dedicated to creating new medicines
which will make a real difference to society. Today, the Company has more than
45 proprietary and partnered programmes in development in various therapeutic
areas including inflammation, haematology, immuno-oncology, oncology and
respiratory disease. The Company has collaborations with multiple pharmaceutical
companies including AbbVie, Boehringer Ingelheim, Eddingpharm, Genzyme, Merck &
Co., Inc., Merck KGaA, Novartis, Novo Nordisk and Taisho Pharmaceuticals. 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
CEO
t: +32 (0)9 262 00 07
m: +32 (0)473 39 50 68
e: edwin.moses(at)ablynx.com
Marieke Vermeersch
Director IR & Corporate Communications
t: +32 (0)9 262 00 82
m: +32 (0)479 49 06 03
e: marieke.vermeersch(at)ablynx.com
Follow us on Twitter (at)AblynxABLX
Ablynx media/analyst relations
FTI Consulting:
Julia Phillips, Brett Pollard, Mo Noonan, Matthew Moss
t: +44 20 3727 1000
e: ablynx(at)fticonsulting.com
pdf format of the press release:
http://hugin.info/137912/R/2048347/765838.pdf
This announcement is distributed by Nasdaq Corporate Solutions on behalf of Nasdaq Corporate Solutions clients.
The issuer of this announcement warrants that they are solely responsible for the content, accuracy and originality of the information contained therein.
Source: Ablynx via GlobeNewswire
Unternehmensinformation / Kurzprofil:
Datum: 12.10.2016 - 07:00 Uhr
Sprache: Deutsch
News-ID 499952
Anzahl Zeichen: 4854
contact information:
Town:
Ghent/Zwijnaarde
Kategorie:
Business News
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