Wyeth and Ablynx sign $212 million agreement

Ablynx is the pioneer in the discovery and development of nanobodies, a novel class of antibody-derived therapeutic proteins.

The agreement will allow the companies to develop and commercialize nanobodies directed at the tumor necrosis factor alpha (TNF-(alpha)) protein and its receptors that target diseases in multiple therapeutic areas including arthritis, thrombosis, cancer and Alzheimer’s disease.

This deal could be lucrative for both companies as nanobody-based therapeutics represent a major commercial opportunity. Nanobodies combine the beneficial features of conventional antibodies, with desirable properties of small-molecule drugs. Nanobodies can be administered in a variety of ways unlike full-sized antibodies that can only be delivered by injection. Nanobodies are manufactured in micro-organisms which also presents a significant cost advantage in comparison to conventional antibodies.

Ablynx and Wyeth will collaborate to advance these novel biologics through preclinical development.

“Ablynx is an exciting European biotechnology company that has established the feasibility of their novel nanobody platform by generating nanobodies to more than twenty different targets,” said Dr Frank Walsh, executive vice president and head of discovery research at Wyeth.

Ablynx expects to initiate its first clinical trials of nanobodies in early 2007.