Ablynx has reached a settlement with Domantis, part of the GlaxoSmithKline group of companies, concerning an alleged dispute relating to a settlement agreement which Ablynx and Domantis entered into in 2005.
Under the new agreement Ablynx has received a license to the European Winter II patent and in return will pay Domantis low single-digit royalties on the first five Nanobody products that are commercialised, the company said.
Reportedly, Ablynx is developing a portfolio of Nanobody-based therapeutics in a number of major disease areas, including inflammation, thrombosis, oncology and Alzheimer’s disease.
Edwin Moses, CEO and chairman of Ablynx, said: “We are very pleased to have settled with Domantis so that we can focus on our key goal of developing Nanobody products and driving them through the clinic.
“We believe our investors want us, where possible, to put our resources into R&D productivity rather than litigation. The fact that there are two Nanobodies in Phase II trials, and by the end of 2009 there will be a total of four in the clinic, is a testimony to the power and promise of our technology.”