Ablynx will receive an upfront payment of US$3m
Belgian nanobodies developer Ablynx has entered into an exclusive licensing agreement with Tokyo-based Taisho Pharmaceutical for the development and commercialisation of Ablynx's anti-TNFa Nanobody, ozoralizumab, in Japan, for the treatment of rheumatoid arthritis.
Under the terms of the agreement, Taisho will be responsible for development, registration and commercialisation of anti-TNFa Nanobody therapeutics in Japan. Ablynx will receive an upfront payment of US$3m and is entitled to receive development and commercial milestone payments plus royalties based on annual net sales of anti-TNFa Nanobody therapeutics generated in Japan.
Dr Edwin Moses, CEO of Ablynx, said: 'We continue to deliver on our partnering strategy for ozoralizumab and are very pleased that this Nanobody could now become a potential new treatment option for inflammatory diseases in Japan.
'This is our first step in building a presence in Japan and we are looking forward to working together with Taisho to make this novel treatment option available to Japanese patients living with RA.'