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news.Ablynx expects to get further milestone payments totalling up to €3m from Boehringer Ingelheim, under an agreement signed between the companies in September 2007 for the development and commercialisation of Nanobodies.
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So far Boehringer Ingelheim has paid totalling up to €12m in milestone payments as part of this agreement.
Reportedly, the agreement will allow potential milestone payments of up to €125m for each Nanobody developed as well as undisclosed royalties to Ablynx.
Under the pact, Boehringer Ingelheim is exclusively responsible for the development, manufacture and commercialisation of any products resulting from the collaboration.
Where as Ablynx retains certain co- promotion rights in Europe.
Ablynx chairman CEO Edwin Moses said that they are pleased that yet another Nanobody programme has reached this contractual milestone. The Nanobody platform continues to deliver across therapeutic areas and also for complex targets.