Ablynx and Merck Serono select a novel nanobody candidate, ALX-0761, for pre-clinical development
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Ablynx and partner Merck Serono announced that they have advanced the Nanobody candidate, ALX-0761, into pre-clinical development for the treatment of autoimmune diseases. This is the first pre-clinical candidate that has emerged from the collaboration which the companies entered in 2008, and will result in a €1 million milestone payment to Ablynx.
In September 2008, Ablynx entered into an agreement with Merck Serono under which Merck Serono and Ablynx co-discover and co-develop Nanobodies against two targets in immunology and oncology. The agreement included an upfront cash payment to Ablynx of €10 million and both companies will share equally all research and development costs and the resulting profits. Ablynx has options to opt-out during the research and development programmes, in which case Ablynx would be eligible to receive milestones and royalties.
In October 2010, Ablynx and Merck Serono entered into a second co-discovery and co-development agreement to develop Nanobodies against one single target in inflammation. Ablynx received an upfront fee of €10 million and retained full control to drive the process up to the investigational new drug (IND) upon which it is eligible to receive a €15 million success fee provided that Merck Serono accepts the IND package. This agreement also allows Ablynx to continue with Merck Serono on a co-development basis and share the resulting profits, or to convert this collaboration into a licensing deal with milestone payments and significant tiered royalties.
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