ABLYNX AND MERCK SERONO EXPAND THEIR PARTNERSHIP INTO OSTEOARTHRITIS
(Thomson Reuters ONE) -
GHENT, Belgium, 9 November 2011 - Ablynx [Euronext Brussels: ABLX] today
announced that it has further expanded its relationship with Merck Serono, a
division of Merck KGaA, Darmstadt, Germany, and entered into a third agreement
to co-discover and co-develop Nanobodies(®) against two targets in
osteoarthritis. The companies will exploit the unique Nanobody features and will
develop multi-specific products, which have extended half-lives.
Under the terms of the agreement, Ablynx will receive an upfront payment of ?20
million payable in two tranches over the next three months and will be fully
responsible for all activities and costs for each programme, excluding
manufacturing costs and costs relating to certain in vivo models, up to the
delivery of the pre-clinical package that will form the basis of an
Investigational New Drug (IND) filing or IND equivalent filing. Ablynx is
entitled to receive a further ?15 million for each programme if the pre-clinical
packages are accepted by Merck Serono. At that point, Ablynx has the option to
continue with Merck Serono on a 50:50 co-development basis and share the
resulting profits, or to convert this collaboration into an exclusive, worldwide
licensing deal with milestone payments and tiered royalties.
"We are pleased with the progress we have made to date in our existing
collaborations with Ablynx, and we look forward to further developing our
productive relationship," said Dr Bernhard Kirschbaum, Head of Global Discovery
and Early Development at Merck Serono. "We are impressed by the speed with which
Ablynx has progressed in our ongoing programmes and we believe they could become
a valuable source of new drug candidates for Merck Serono. We believe that the
specific features of the Nanobodies have the potential to address key challenges
in the treatment of osteoarthritis."
Dr Edwin Moses, Chairman and CEO of Ablynx commented: "We are very pleased to
have entered into a third agreement with Merck Serono a year after entering into
our second collaboration. Merck Serono is one of our most valued partners and
the innovative and creative deal structure that we have put in place represents
a "win-win" for both parties. Such new deals with an existing partner are clear
signs of success of the earlier programmes in the partnership and reflect well
on the strength of our Nanobody platform and the potential drug products it can
create."
In September 2008, Merck Serono and Ablynx entered into an agreement to co-
discover and co-develop Nanobodies against two disease targets in oncology and
immunology. In October 2010, the companies entered into a second agreement to
co-discover and co-develop Nanobodies against an inflammatory disease target.
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
Investor Relations Manager
t: +32 (0)9 262 00 82
m: +32 (0)479 49 06 03
e: marieke.vermeersch(at)ablynx.com
Complete version of the press release:
http://hugin.info/137912/R/1562093/483651.pdf
This announcement is distributed by Thomson Reuters on behalf of
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(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#1562093]
Unternehmensinformation / Kurzprofil:
Datum: 09.11.2011 - 07:00 Uhr
Sprache: Deutsch
News-ID 85598
Anzahl Zeichen: 4183
contact information:
Town:
Ghent
Kategorie:
Business News
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