GHENT, Belgium, 20 March 2012 - Ablynx [Euronext Brussels:
ABLX] today announced a two- year extension of the initial
five-year research funding by Boehringer Ingelheim of their
global strategic alliance to discover, develop and
commercialise up to 10 different Nanobody®
therapeutics. The extension which will run until September
2014, will allow all the existing ten Nanobody programmes to
advance to a stage where Boehringer Ingelheim can potentially
progress each programme into development. Ablynx will receive
a total of €6.6 million in additional research funding from
Boehringer Ingelheim, some of which will be in advance. This
payment is in return for work carried out by Ablynx's
specialist Nanobody scientists. Ablynx has already received
over €58 million from payments under the Strategic Alliance
since it was signed in 2007.
In September 2007, Ablynx and Boehringer Ingelheim entered
into a Strategic Alliance on the discovery, development and
commercialisation of Nanobody therapeutics across a range of
diseases, including oncology, immunology, and respiratory
diseases. The agreement allows for potential milestone
payments of up to €125 million plus royalties to Ablynx for
each Nanobody which reaches market. Boehringer Ingelheim is
exclusively responsible for the development, manufacturing
and commercialisation of any products resulting from the
collaboration. Ablynx retains certain co-promotion rights in
Europe.
Dr Edwin Moses, CEO and Chairman of Ablynx, said:
"We are delighted to extend the current Strategic Alliance.
As a result of this very successful collaboration, there are
now two Nanobody programmes already in pre-clinical
development and seven Nanobodies at various stages in
discovery across multiple disease areas. In addition, as part
of a separate collaboration with Boehringer Ingelheim, there
is a Nanobody relevant in Alzheimer's disease also at the
pre-clinical development stage. We are very pleased to have
eleven Nanobody programmes potentially able to make an
important contribution to Boehringer Ingelheim's R&D
pipeline."
Ablynxis a biopharmaceutical company engaged in the
discovery and development of
Nanobodies
®, a novel class of therapeutic proteins based on
single-domain antibody fragments, for a range of serious and
life-threatening human diseases, including inflammation,
haematology, oncology and pulmonary disease. Today, the
Company has over 25
programmes in
the
pipelineand seven Nanobodies at clinical
development stage. Ablynx has ongoing research collaborations
and significant partnerships with major pharmaceutical
companies, including
Boehringer Ingelheim, Merck Serono and Novartis. The Company
is headquartered in Ghent, Belgium. More information can be
found on www.ablynx.com.
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
Marieke Vermeersch Investor Relations Manager t: +32 (0)9 262
00 82
m: +32 (0)479 49 06 03
e: marieke.vermeersch@ablynx.com
Mary-Jane Elliott, Amber Bielecka, Claire Dickinson t: +44
207 920 2330
e: ablynx@mcomgroup.com
Certain statements, beliefs and opinions in this press release are forward-looking, which reflect the Company's or, as appropriate, the Company's directors' current expectations and projections about future events. By their nature, forward-looking statements involve a number of risks, uncertainties and assumptions that could cause actual results or events to differ materially from those expressed or implied by the forward-looking statements. These risks, uncertainties and assumptions could adversely affect the outcome and financial effects of the plans and events described herein. A multitude of factors including, but not limited to, changes in demand, competition and technology, can cause actual events, performance or results to differ significantly from any anticipated development. Forward looking statements contained in this press release regarding past trends or activities should not be taken as a representation that such trends or activities will continue in the future. As a result, the Company expressly disclaims any obligation or undertaking to release any update or revisions to any forward-looking statements in this press release as a result of any change in expectations or any change in events, conditions, assumptions or circumstances on which these forward-looking statements are based. Neither the Company nor its advisers or representatives nor any of its or their parent or subsidiary undertakings or any such person's officers or employees guarantees that the assumptions underlying such forward-looking statements are free from errors nor does either accept any responsibility for the future accuracy of the forward-looking statements contained in this press release or the actual occurrence of the forecasted developments. You should not place undue reliance on forward-looking statements, which speak only as of the date of this press release.
distributed by | This press release was issued by Ablynx NV and was initially posted at http://www.ablynx.com/newsroom/openpdf.php?id=aHR0cDovL2N3cy5odWdpbm9ubGluZS5jb20vQS8xMzc5MTIvUFIvMj AxMjAzLzE1OTU4NjUueG1s . It was distributed, unedited and unaltered, by noodls on 2012-03-20 17:58:25 PM. The issuer is solely responsible for the accuracy of the information contained therein. |