Flemish spin-out extends collaboration with Boehringer Ingelheim

Collaboration agreement

Ablynx, which is developing a novel class of antibody-derived therapeutic proteins, announced today that the Alzheimer’s disease collaboration with Boehringer Ingelheim was proceeding well and that the research funding has been extended for another year.

In January 2007 Boehringer Ingelheim and Ablynx agreed a $265 million worldwide research and licensing deal to discover and develop new therapies for Alzheimer’s disease using Ablynx’s proprietary Nanobodies, a novel class of therapeutic proteins. The deal also included a joint research programme with Ablynx scientists.

Boehringer Ingelheim will be solely responsible for the development, manufacture and commercialization of any products resulting from the collaboration. As part of the collaboration, Ablynx received an upfront fee and will receive development and commercial milestones as well as undisclosed royalties based on net sales.

Dr Edwin Moses, CEO and Chairman of Ablynx, said, “We are very pleased with the progress that has been made in our joint Alzheimer’s disease programme with Boehringer Ingelheim. We look forward to continue working together with Boehringer Ingelheim in this medical area which urgently requires an innovative approach.”

Founded in 2001 in Ghent, Belgium, as a spin out from VIB, the Flemish virtual biotech institute, and the Free University of Brussels, Ablynx has over 180 employees and completed a successful IPO on Euronext  on 7 November 2007.