Ablynx is expected to receive further milestone payments of E3m from Boehringer Ingelheim, triggered as part of its strategic alliance for the development and commercialisation of nanobodies. Ablynx will now have earned a total of E9m in milestone payments from Boehringer Ingelheim in 2009.
Earlier, Ablynx and Boehringer Ingelheim have entered into an agreement in September 2007 to collaborate on the discovery, development and commercialisation of up to 10 different nanobody therapeutics across a range of multiple therapeutic areas including for example immunology, oncology and respiratory diseases.
Reportedly, the agreement would allow potential milestone payments of up to E125m for each nanobody developed as well as undisclosed royalties to Ablynx. Boehringer Ingelheim is exclusively responsible for the development, manufacture and commercialisation of any products resulting from the collaboration. Ablynx retains certain co-promotion rights in Europe.
Edwin Moses, chairman and CEO of Ablynx, said: “Achieving three research-based milestones in less than one year demonstrates the significant progress made in our strategic alliance with Boehringer Ingelheim. We are delighted to see that the nanobody platform delivers across multiple therapeutic areas and in complex target programmes. We look forward to seeing these nanobody programmes progressing towards development.”