ABLYNX ACHIEVES THIRD MILESTONE IN DRUG DISCOVERY AND DEVELOPMENT
COLLABORATION
(Thomson Reuters ONE) - GHENT, Belgium, 18 November 2009 - Ablynx [Euronext Brussels: ABLX],announced today that it will receive an undisclosed milestone paymentfrom Novartis. The payment has been triggered by successful deliveryto Novartis of Nanobody® candidates which met specific criteria. Thiswill be the third milestone payment that Ablynx has received fromNovartis since the initiation of the alliance between the companies.Novartis and Ablynx entered into the alliance in December 2005 todiscover and develop therapeutic Nanobodies against targets that aredifficult to address with conventional antibodies and fragments.Under the terms of this ongoing agreement, Ablynx receives upfrontfees, license fees and funding for research and development. Inaddition, Ablynx is eligible for milestone payments and royaltiesupon commercialisation. Novartis has exclusive rights to develop andcommercialise the Nanobody products resulting from the collaboration.Edwin Moses, CEO and Chairman of Ablynx, commented: "This is animportant stage in our alliance with Novartis as these Nanobodieshave shown significant activity in vivo compared with a benchmarkantibody. We are very pleased with the progress made and look forwardto reaching further key milestones under this alliance in thefuture." -ends-About Ablynx [Euronext Brussels: ABLX] - http://www.ablynx.comFounded in 2001 in Ghent, Belgium, Ablynx is a biopharmaceuticalcompany focused on the discovery and development of Nanobodies, anovel class of therapeutic proteins based on single-domain antibodyfragments, for a range of serious and life-threatening humandiseases. The Company currently has over 220 employees. Ablynxcompleted a successful IPO on Euronext Brussels [ABLX] on 7 November2007.Ablynx is developing a portfolio of Nanobody-based therapeutics in anumber of major disease areas, including inflammation, thrombosis,oncology and Alzheimer's disease. Nanobodies have been generatedagainst more than 150 different disease targets. Efficacy data havebeen obtained in over 26 in vivo models for Nanobodies against arange of different targets.For more information, please contact:College Hill Life Sciences - for International media enquiries:Sue Charles, Justine Lamond, Dr John McIntyret: +44 (0)20 7866 7857f: +44 (0)20 7866 7900e: ablynx(at)collegehill.comAblynx:Dr Edwin MosesChairman and CEOt: +32 (0)9 262 00 07m: +44 (0)7771 954 193 / +32 (0)473 39 50 68e: edwin.moses(at)ablynx.comEva-Lotta AllanChief Business Officert: +32 (0)9 262 00 75m: +32 (0)475 78 36 21 / +44 (0)7990 570 900e: eva-lotta.allan(at)ablynx.comhttp://hugin.info/137912/R/1355881/329302.pdfThis announcement was originally distributed by Hugin. The issuer is solely responsible for the content of this announcement.
Datum: 18.11.2009 - 18:00 Uhr
Sprache: Deutsch
News-ID 8592
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COLLABORATION"
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