GHENT, BELGIUM--(Marketwire - September 20, 2012) - Ablynx [Euronext Brussels: ABLX] today
announced that they have advanced the Nanobody(®) candidate ALX-0751,
with Merck Serono, a division of Merck KGaA, Darmstadt, Germany, into
pre-clinical development in the field of oncology. This is the second
candidate that has emerged from the collaboration which the companies
into in 2008, and will result in a EUR1 million milestone payment to
"We are very pleased to see our joint oncology programme with Merck
advancing into pre-clinical development in less than four years since the
of our collaboration," said Dr Edwin Moses, Chairman and CEO of Ablynx.
the second pre-clinical development asset that we have with Merck Serono
are looking forward to seeing this programme advance towards the clinic."
In September 2008, Ablynx entered into an agreement with Merck under which
Serono and Ablynx agreed to co-discover and co-develop Nanobodies
targets in immunology and oncology. The agreement included an upfront
payment to Ablynx of EUR10 million and both companies committed to sharing
all research and development costs and the resulting profits. Ablynx
options to opt-out during the research and development programmes, in which
Ablynx would be eligible to receive milestones and royalties.
In October 2010, Ablynx and Merck entered into a second co-discovery
co-development agreement to develop Nanobodies against one single
inflammation. Ablynx received an upfront fee of EUR10 million and
control to drive the process up to the Investigational New Drug
application upon which it is eligible to receive a EUR15 million
provided that Merck Serono accepts the IND package. This agreement also
Ablynx to continue with Merck Serono on a co-development basis and
potential resulting profits, or to convert this collaboration into a
deal with milestone payments and significant tiered royalties.
In November 2011, Ablynx and Merck announced that they have further
their relationship and entered into a third agreement to co-discover
co-develop Nanobodies against two targets in osteoarthritis. Ablynx
upfront fee of EUR20 million and will be fully responsible for all
costs for each programme, excluding manufacturing costs and costs
certain in vivo models, up to the delivery of the pre-clinical package that
form the basis of an Investigational New Drug (IND) filing or IND
filing. Ablynx is entitled to receive a further EUR15 million for each
if the pre-clinical packages are accepted by Merck Serono. At that point,
has the option to continue with Merck Serono on a 50:50 co-development
share the resulting profits, or to convert this collaboration into an
worldwide licensing deal with milestone payments and tiered royalties.
Ablynx is a biopharmaceutical company engaged in the discovery and
of Nanobodies(®), a novel class of therapeutic proteins based on
antibody fragments, for a range of serious human diseases,
inflammation, haematology, oncology and pulmonary disease. Today, the
has approximately 25 programmes in the pipeline and seven Nanobodies at
development stage. Ablynx has ongoing research collaborations and
partnerships with major pharmaceutical companies, including
Ingelheim, Merck KGaA, and Novartis. The Company is headquartered in
Belgium. More information can be found on www.ablynx.com.
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Source: Ablynx via Thomson Reuters ONE