SOURCE: Ablynx

December 10, 2007 13:17 ET


GHENT, BELGIUM--(Marketwire - December 10, 2007) - Ablynx [Euronext Brussels: ABLX], a pioneer in the discovery and development of Nanobodies®, a novel class of antibody-derived therapeutic proteins, announced today that its drug discovery and development alliance with Novartis has been extended for another year.

Under the terms of the agreement, entered into in December 2005, the companies are collaborating to discover and develop novel Nanobody® based therapeutics against disease targets that are difficult to address with conventional antibodies or their fragments. Novartis has exclusive right to develop and commercialise the Nanobody® products resulting from the collaboration.

As part of the collaboration Ablynx receives license fees and funding for research and development: these are now extended for a further year. In addition, Ablynx is eligible for milestone payments and royalties upon commercialization.

Edwin Moses, CEO and Chairman of Ablynx, commented: "We are delighted our collaboration with Novartis, one of the leading pharmaceutical companies with a significant track record in innovative drug development, is extended for another year. This is an important partnership for Ablynx and we look forward to progressing our joint efforts to advance the Nanobody®-based programmes to the next stage.

Copyright © Hugin ASA 2007. All rights reserved.

Contact Information

  • For more information, please contact:

    College Hill Life Sciences for UK/International media enquiries -
    Sue Charles, Justine Lamond, Holly Griffiths
    t: +44 (0)20 7457 2020
    f: +44 (0)20 7866 7900
    e: Email Contact

    Dr. Edwin Moses
    Chairman and CEO
    t: +32 (0)9 262 00 07
    m: +44 (0)7771 954 193 / +32 (0)473 39 50 68
    e: Email Contact

    Eva-Lotta Allan
    Chief Business Officer
    t: +32 (0)9 262 00 75
    m: +32 (0)475 78 36 21 / +44 (0)7990 570 900
    e: Email Contact