SOURCE: Ablynx

December 02, 2009 12:15 ET

ABLYNX WILL RECEIVE FURTHER MILESTONE PAYMENTS OF EUR 3 MILLION AS PART OF ITS STRATEGIC ALLIANCE WITH BOEHRINGER INGELHEIM

GHENT, BELGIUM--(Marketwire - December 2, 2009) -


GHENT, Belgium, 2 December 2009 - Ablynx [Euronext Brussels: ABLX] today announced that it will receive further milestone payments totalling EUR 3 million from Boehringer Ingelheim, triggered as part of its strategic alliance for the development and commercialisation of Nanobodies®. Ablynx will now have earned a total of EUR 9 million in milestone payments from Boehringer Ingelheim in 2009.

Ablynx and Boehringer Ingelheim entered into an agreement in September 2007 to collaborate on the discovery, development and commercialisation of up to 10 different Nanobody therapeutics across a range of multiple therapeutic areas including for example immunology, oncology and respiratory diseases. The agreement would allow potential milestone payments of up to EUR 125 million for each Nanobody developed as well as undisclosed royalties to Ablynx. Boehringer Ingelheim is exclusively responsible for the development, manufacture and commercialisation of any products resulting from the collaboration. Ablynx retains certain co-promotion rights in Europe.

Dr Edwin Moses, CEO and Chairman of Ablynx, said: "Achieving three research-based milestones in less than one year demonstrates the significant progress made in our strategic alliance with Boehringer Ingelheim. We are delighted to see that the Nanobody platform delivers across multiple therapeutic areas and in complex target programmes." He added: "We look forward to seeing these Nanobody programmes progressing towards development."

-ends-

About Ablynx [Euronext Brussels: ABLX] - http://www.ablynx.com

Founded in 2001 in Ghent, Belgium, Ablynx is a biopharmaceutical company focused on the discovery and development of Nanobodies, a novel class of therapeutic proteins based on single-domain antibody fragments, for a range of serious and life-threatening human diseases. The Company currently has over 230 employees. Ablynx completed a successful IPO on Euronext Brussels [ABLX] on 7 November 2007.

Ablynx is developing a portfolio of Nanobody-based therapeutics in a number of major disease areas, including inflammation, thrombosis, oncology and Alzheimer's disease. Nanobodies have been generated against more than 150 different disease targets. Efficacy data have been obtained in over 26 in vivo models for Nanobodies against a range of different targets.


For more information, please contact:

College Hill Life Sciences - for International media enquiries:
Sue Charles, Justine Lamond, Dr John McIntyre
t:   +44 (0)20 7866 7857
f:   +44 (0)20 7866 7900
e:  ablynx@collegehill.com

Ablynx:
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:  edwin.moses@ablynx.com

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:  eva-lotta.allan@ablynx.com


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Contact Information

  • For more information, please contact:

    College Hill Life Sciences - for International media enquiries:
    Sue Charles, Justine Lamond, Dr John McIntyre
    t: +44 (0)20 7866 7857
    f: +44 (0)20 7866 7900
    e: Email Contact

    Ablynx:
    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