Ablynx Enters into a Research and License Agreement with Wyeth
News Nov 09, 2006
Ablynx has announced that they have entered into an exclusive research collaboration and license agreement with Wyeth Pharmaceuticals, a division of Wyeth, to discover, develop and commercialise Nanobodies® directed at the tumour necrosis factor alpha (TNF-a) protein and its receptors that target diseases in multiple therapeutic areas.
Ablynx has granted Wyeth exclusive worldwide rights to Nanobodies® targeting the clinically validated target TNF- a.
Ablynx and Wyeth will collaborate to advance these novel biologics through preclinical development.
Ablynx will receive an initial payment, research support and milestone payments.
Potential payments to Ablynx could total up to $212.5 million for the development and commercialisation of multiple products. In addition Ablynx will receive royalties on product sales.
The alliance is based on Ablynx’s Nanobody® platform that can be used to create biopharmaceuticals with distinct advantages over current biologics.
Edwin Moses, Chief Executive Officer of Ablynx commented, "We are delighted to have established this strategic collaboration."
"Wyeth has a proven track record in the discovery, development, manufacturing and commercialisation of novel biopharmaceuticals with demonstrated success with Enbrel."
"Wyeth is enthusiastic about this new partnership with Ablynx," said Dr. Frank Walsh, Executive Vice President, Head of Discovery Research, Wyeth Pharmaceuticals.
"Ablynx is an exciting European biotechnology company that has established the feasibility of their novel Nanobody® platform by generating Nanobodies® to more than twenty different targets."
"We look forward to a productive and long lasting partnership with Ablynx."