Ablynx and Boehringer ally for nanobody therapeutics
Boehringer Ingelheim and Ablynx, the biopharmaceutical company focused on the discovery and development of Nanobodies, have announced a major global strategic alliance to discover, develop and commercialise up to 10 different Nanobody therapeutics.
Boehringer Ingelheim and Ablynx, the biopharmaceutical company focused on the discovery and development of Nanobodies, have announced a major global strategic alliance to discover, develop and commercialise up to 10 different Nanobody therapeutics.
Ablynx expects to receive payments of Euro 75m during the research term of the collaboration which includes €15m in a proposed equity investment by Boehringer Ingelheim in Ablynx. Ablynx will receive development milestone payments for each Nanobody which is developed as well as undisclosed royalties.
The discovery of Nanobodies will commence against agreed targets across multiple therapeutic areas including immunology, oncology and respiratory. Both parties will propose target opportunities for the collaboration with the goal of bringing Nanobody-based products rapidly to patients in need.
Edwin Moses, ceo and Chairman of Ablynx, said, "This is by far the largest financial agreement that Ablynx has signed to discover and develop innovative Nanobody therapeutics. This strategic alliance may provide the opportunity to grow Ablynx's own product pipeline."