11 Apr 2006 - Ablynx has announced that its drug discovery and development alliance with Procter & Gamble Pharmaceuticals, Inc. (P&GP), a subsidiary of The Procter & Gamble Company, has been extended to include metabolic disease targets. Through this agreement, Ablynx will use its unique and patent protected Nanobody(TM) platform to discover and develop drug candidates against targets specified by P&GP.
Under terms of the agreement, P&GP provides Ablynx with research and development funding, milestone payments, and royalties upon commercialization. Ablynx is responsible for discovering Nanobodies(TM) that meet an agreed product profile. P&GP assumes responsibility for the pre-clinical and clinical development of lead Nanobodies(TM), as well as the commercialization of any resulting drug products. The financial terms of the agreement are not disclosed.
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