Brussels : ABLX

November 04, 2011 02:00 ET

Ablynx Regains Rights From Pfizer to Nanobodies Targeting TNF-alpha

GHENT, BELGIUM--(Marketwire - Nov 4, 2011) - Ablynx [Euronext Brussels: ABLX] today announced that it has regained worldwide rights from Pfizer Inc. to develop and commercialise Nanobodies targeting TNF-alpha. These rights include the product ATN-103, for which positive proof-of-concept data from a Phase II trial in rheumatoid arthritis (RA) were announced in May of this year; and the product PF-05230905, which is in Phase I trials. Ablynx will undertake a detailed review of the programmes before deciding how to proceed.

The 2006 agreement which Ablynx entered into with Wyeth (acquired by Pfizer in 2009) has been terminated and all licensed rights under Ablynx intellectual property relating to the anti-TNF-alpha programmes are being returned to Ablynx. In addition, Ablynx will also obtain certain Pfizer intellectual property and know-how relating to the anti-TNF-alpha programmes and will have access to Pfizer's existing clinical trial supplies of ATN-103 and PF-05230905, assay methods and manufacturing processes for use in future development activities. In return for these rights and assets, after potential regulatory approval of the first anti-TNF-alpha Nanobody, Ablynx will start to share with Pfizer, milestone payments it receives from any third party licensee of the anti-TNF- alpha Nanobody programmes, up to a capped amount of $50 million, as well as paying a royalty on sales of such products.

Dr Jose-Carlos Gutierrez-Ramos, Head of BioTherapeutics Research and Development, Pfizer, added: "We have enjoyed a very productive collaboration with Ablynx. Our decision to return this programme to Ablynx was made as part of Pfizer's portfolio review process. We wish Ablynx success with ATN-103 and PF- 05230905."

Webcast and presentation

The Ablynx management team will host a conference call webcast today, 4 November 2011 at 4.00 p.m. CET. The conference call will be webcast live and may be accessed on the home page of the Ablynx website at www.ablynx.com or by clicking here.

Complete version of the press release: http://hugin.info/137912/R/1560927/482953.pdf

This announcement is distributed by Thomson Reuters on behalf of Thomson Reuters clients. The owner of this announcement warrants that:

(i) the releases contained herein are protected by copyright and other applicable laws; and

(ii) they are solely responsible for the content, accuracy and originality of the information contained therein.

Source: Ablynx via Thomson Reuters ONE


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

    Marieke Vermeersch
    Investor Relations Manager
    t: +32 (0)9 262 00 82
    m: +32 (0)479 49 06 03
    e: Email Contact