ABLYNX ACHIEVES FIRST MILESTONE AS PART OF COLLABORATION WITH NOVO NORDISK
(Thomson Reuters ONE) -
* Multi-specific Nanobody candidate reached discovery milestone
* Ablynx to receive a ?1 million success fee
GHENT, Belgium, 30 November 2016 - Ablynx [Euronext Brussels: ABLX; OTC: ABYLY]
today announced that it has achieved an initial discovery milestone with a
multi-specific Nanobody construct as part of its collaboration with Novo
Nordisk, triggering a ?1 million milestone payment to Ablynx.
Under the terms of the agreement with Novo Nordisk, signed on 25 November 2015,
Ablynx received an upfront license fee of ?5 million and will receive up to ?4
million in research funding during the initial three year research term of the
collaboration. In addition, Ablynx is eligible to receive potential development,
regulatory and commercial milestone payments of up to ?182 million plus tiered
royalties on the annual net sales of any products resulting from the
collaboration. Novo Nordisk is responsible for the development, manufacturing
and commercialisation of any products resulting from this agreement.
Dr Edwin Moses, CEO of Ablynx, commented: "Our proprietary Nanobody technology
platform is ideally suited to develop multi-specific Nanobody candidates that
address multiple targets in a single drug molecule. The achievement of our first
milestone just one year after we entered into the collaboration with Novo
Nordisk is an endorsement of the power of our platform to rapidly generate
novel, potent drug candidates against disease targets which are difficult to
address with other technologies. We are looking forward to further advancing the
programme and the Nanobody potentially progressing towards clinical studies in
2018."
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/2060089/772232.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: 30.11.2016 - 07:00 Uhr
Sprache: Deutsch
News-ID 509869
Anzahl Zeichen: 4004
contact information:
Town:
Ghent/Zwijnaarde
Kategorie:
Business News
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"ABLYNX ACHIEVES FIRST MILESTONE AS PART OF COLLABORATION WITH NOVO NORDISK"
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