GHENT, Belgium, 21 August 2008 - Ablynx [Euronext Brussels: ABLX], a pioneer in the discovery and development of Nanobodies®, a novel class of antibody-derived therapeutic proteins, announced today that the Alzheimer's disease collaboration with Boehringer Ingelheim was proceeding well and therefore the research funding has been extended for another year.
In January 2007 Boehringer Ingelheim and Ablynx announced that they had entered into a $265 million worldwide research and licensing agreement to discover and develop new therapies for Alzheimer's disease using Ablynx's Nanobodies®, a novel class of therapeutic proteins. The deal also included a joint research programme with Ablynx scientists. Boehringer Ingelheim will be solely responsible for the development, manufacture and commercialization of any products resulting from the collaboration. As part of the collaboration, Ablynx received an upfront fee and will receive development and commercial milestones as well as undisclosed royalties based on net sales.
Dr. Edwin Moses, CEO and Chairman of Ablynx, commented: "We are very pleased with the progress that has been made in our joint Alzheimer's disease programme with Boehringer Ingelheim. We look forward to continue working together with Boehringer Ingelheim in this medical area which urgently requires an innovative approach."
For more information, please contact:
College Hill Life Sciences - for UK/International media enquiries:
Sue Charles, Justine Lamond, John McIntyre
t: +44 (0)20 7866 7857
f: +44 (0)20 7866 7900
e: ablynx@collegehill.com
Ablynx:
Dr Edwin Moses
Chairman and CEO
t: +32 (0)9 262 00 07
m: +44 (0)7771 954 193 / +32 (0)473 39 50 68
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
Complete version of the press release in English -- http://hugin.info/137912/R/1245045/268654.pdf
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Source: Ablynx