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news.Belgium-based biopharmaceutical company Ablynx has extended the Alzheimer's disease collaboration with Boehringer Ingelheim for another year.
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In January 2007 Boehringer Ingelheim and Ablynx had entered into a $265 million worldwide research and licensing agreement to discover and develop new therapies for Alzheimer’s disease using Ablynx’s Nanobodies, a novel class of therapeutic proteins.
The deal also included a joint research program 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.
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 program with Boehringer Ingelheim. We look forward to continue working together with Boehringer Ingelheim in this medical area which urgently requires an innovative approach.”