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news.Ablynx, a biopharmaceutical company focused on development of Nanobodies, together with partner Merck Serono, have advanced the Nanobody candidate, ALX-0761, into pre-clinical development to treat autoimmune diseases.
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According to Ablynx, this is the first pre-clinical candidate that has emerged from the collaboration.
Ablynx is entitled to a milestone payment of EUR1m, under the terms of the agreement.
Ablynx entered into an agreement with Merck Serono in September 2008 under which both the companies co-discover and co-develop Nanobodies against two targets in immunology and oncology.
The two companies entered into a second co- discovery and co-development agreement in October 2010 to develop Nanobodies against one single target in inflammation.
Ablynx CEO Edwin Moses said the move indicates the fast progress of their Nanobody platform that can generate lead candidates for further development.