SOURCE: Ablynx

May 20, 2010 12:13 ET

ABLYNX ANNOUNCES A THIRD EXTENSION OF ITS ANTI-TNF-ALPHA NANOBODY COLLABORATION WITH PFIZER

GHENT, BELGIUM--(Marketwire - May 20, 2010) - Ablynx (Euronext Brussels: ABLX) announced today 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.

Dr. Edwin Moses, CEO and Chairman of Ablynx, commented: "We are delighted with this research collaboration extension and the rapid progress made in the partnership with Pfizer. We look forward to seeing the lead Nanobody candidate progress through Phase II trials, as well as working towards the goal of advancing additional anti-TNF-alpha Nanobodies towards the clinic. There are now four Nanobodies( )in clinical trials including Ablynx's two anti-thrombosis programmes and an anti-RANKL programme."

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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 and raised EUR50 million through an SPO in March 2010.

[HUG#1417768]


Complete version of the press release: http://hugin.info/137912/R/1417768/368175.pdf

Contact Information

  • For more information, please 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