Ablynx triggers €3M milestone payment

Milestone

Ablynx NV has announced that it is to receive further milestone payments totalling €3 million from Boehringer Ingelheim, triggered as part of its strategic alliance for the development and commercialisation of Nanobodies. This brings the total earned by Ablynx under the deal in 2009 to €9 million.

The two companies agreed in September 2007 to collaborate on the discovery, development and commercialisation of up to 10 different Nanobody therapeutics across a range of disease areas, including immunology, oncology and respiratory diseases. The agreement would allow potential milestone payments of up to €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.

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.”