Ablynx announces a third extension of its Anti-TNF-Alpha Nanobody collaboration with Pfizer

25-May-2010 - Belgium

Ablynx announced that the research collaboration which forms part of its license agreement for Nanobodies to tumour necrosis factor alpha (TNF-alpha) with Pfizer has been extended for another year.

Ablynx announced the exclusive research collaboration and license agreement with Pfizer (originally signed with Wyeth Pharmaceuticals) in November 2006, a deal potentially worth $212.5 million in past and future milestone payments for commercialisation across multiple indications. In addition, Ablynx is eligible to receive royalties on product sales. Under this agreement, Pfizer has exclusive rights to develop and commercialise anti-TNF-alpha Nanobodies developed under the collaboration. The lead Nanobody-based candidate is in a Phase II study in patients with rheumatoid arthritis.

The license agreement includes a research collaboration where Pfizer and Ablynx are working together to discover and develop additional Nanobody-based therapeutics against TNF-alpha. TNF-alpha is a key drug target in combating inflammation related disorders such as rheumatoid arthritis, Crohn's disease, psoriatic arthritis and ankylosing spondylitis.

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