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