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Wyeth Pharmaceuticals (New Jersey) (WYE) Initiates Phase II And Pays Ablynx Another Milestone of $4 Million In The Tnf-Alpha Nanobody(R) Collaboration


9/30/2009 10:24:26 AM

GHENT, BELGIUM--(Marketwire - September 30, 2009) - Ablynx [Euronext Brussels: ABLX], today announced that it has reached a second milestone under the terms of its collaboration with Wyeth Pharmaceuticals, a division of Wyeth. A milestone payment of $4 million has been triggered by the initiation by Wyeth of a first Phase II multiple dose study in patients with rheumatoid arthritis (RA) for a Nanobody® targeting tumour necrosis factor alpha (TNF-alpha).

Wyeth entered into a Phase I study in healthy volunteers in December 2008 in the USA and Japan. Based on a successful conclusion of that study, where the Nanobody® was safe and well tolerated, Wyeth has today initiated a multiple dose Phase II study in RA patients. Ablynx entered into an exclusive research collaboration and license agreement with Wyeth Pharmaceuticals in November 2006, a deal potentially worth $212.5 million for the successful development and commercialisation of multiple products. In addition, Ablynx is eligible to receive royalties on product sales. Wyeth has exclusive rights to develop and commercialise anti-TNF-alpha Nanobodies® developed under the collaboration. TNF-alpha is a key drug target in combating inflammation related disorders such as rheumatoid arthritis, Crohn's disease, psoriatic arthritis and ankylosing spondylitis.

Dr Edwin Moses, CEO and Chairman of Ablynx commented: "After a successful Phase I study in healthy volunteers in the USA and Japan, we are delighted that Wyeth has progressed the TNF-alpha programme into a Phase II study in patients with RA. Therapeutics targeting TNF-alpha generated $16.8 billion in sales in 2008, and Wyeth Pharmaceuticals is well positioned with its Enbrel franchise to progress this Nanobody® programme towards the market and create another great success."

                               -ends-

For more information, please contact:
For international media enquiries:
College Hill Life Sciences
Sue Charles, Justine Lamond,
Dr John McIntyre
t:   +44 (0)20 7866 7857
e:  ablynx@collegehill.com

Ablynx:
Dr Edwin Moses
Chairman and CEO
t:   +32 (0)9 262 00 07
m: +44 (0)7771 954 193
e:  edwin.moses@ablynx.com

Eva-Lotta Allan
Chief Business Officer
t:   +32 (0)9 262 00 75
m: +32 (0)475 78 36 21 /
+44 (0)7990 570 900
e:  eva-lotta.allan@ablynx.com


This announcement was originally distributed by Hugin. The issuer is solely responsible for the content of this announcement.

Attachments:

Complete version of the press release in English -- http://hugin.info/137912/R/1344997/322669.pdf

Copyright © Hugin AS 2009. All rights reserved.




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