Ablynx and Boehringer Ingelheim announce global strategic alliance to discover, develop and commercialise Nanobody therapeutics
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Boehringer Ingelheim and Ablynx jointly announced a major global strategic alliance to discover, develop and commercialise up to 10 different Nanobody® therapeutics. Ablynx expects to receive payments of EUR 75 million during the research term of the collaboration which includes EUR 15 million in a proposed equity investment by Boehringer Ingelheim in Ablynx. In addition, Ablynx will receive development milestone payments for each Nanobody® which is developed, of up to EUR 125 million as well as undisclosed royalties.
Ablynx and Boehringer Ingelheim will collaborate jointly in the discovery of Nanobodies® 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. Boehringer Ingelheim will be exclusively responsible for the development, manufacture and commercialisation of any products resulting from the collaboration. Ablynx will have certain co-promotion rights in Europe.
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