GHENT, BELGIUM--(Marketwire - April 02, 2012) - Ablynx [Euronext Brussels: ABLX] today
that it has received a EUR400,000 milestone payment from its
Novartis. The payment was triggered by the approval of an
Drug (IND) application from the U.S. Food and Drug Administration
Phase I clinical trial for a Nanobody® licensed to Novartis. This is
development candidate emerging from the licensing agreement between
Ablynx and Novartis entered into a commercial licensing agreement in July
under which Novartis obtained licenses to develop and commercialise
against two targets (including this one for which an IND has been
which originated from the research agreement between the parties, entered
in 2005. Since July 2010, Novartis has full responsibility for the
progress of both programmes and Ablynx is eligible to receive
development-based milestone payments and royalties on sales following
commercialisation of the
Dr Edwin Moses, CEO and Chairman of Ablynx, commented:
"We are excited that Novartis has obtained IND approval and that they will
this first Nanobody into clinical development in an oncology setting.
development candidate demonstrates the power of the Nanobody
addressing complex target classes that are challenging to address
About Investigational New Drug Application (IND)
An IND is an application that a drug sponsor must submit to U.S. Food and
Administration (FDA) before beginning tests of a new drug on humans.
package contains the plan for the study and is supposed to give a
picture of the drug, including its structural formula, animal test
manufacturing information. The equivalent in Europe is called an
Medicinal Product Dossier (IMPD).
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 and life-threatening human
including inflammation, haematology, oncology and pulmonary disease.
Company has over 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 Serono 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