GHENT, BELGIUM--(Marketwire - October 12, 2009) -
GHENT, Belgium, 12 October, 2009 - Ablynx [Euronext Brussels: ABLX],
today announced that it has reached a settlement with Domantis (part
of the GlaxoSmithKline group of companies) concerning an alleged
dispute relating to a settlement agreement which Ablynx and Domantis
entered into in 2005.
Under the new agreement Ablynx has received a license to the European
Winter II patent which lay at the heart of the dispute and in return
will pay Domantis low single-digit royalties on the first five
Nanobody® products which are commercialised.
Dr Edwin Moses, CEO and Chairman of Ablynx, commented: "We are very
pleased to have settled with Domantis so that we can focus on our key
goal of developing Nanobody® products and driving them through the
clinic. We believe our investors want us, where possible, to put our
resources into R&D productivity rather than litigation. The fact that
there are two Nanobodies® in Phase II trials, and by the end of 2009
there will be a total of four in the clinic, is a testimony to the
power and promise of our technology."
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