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news.Ablynx's partner Merck Serono has started dosing healthy volunteers in a Phase I trial designed to assess the safety, pharmacokinetic and pharmacodynamic profile of the nanobody, ALX-0761, to treat inflammatory diseases.
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ALX-0761 is the first clinical nanobody candidate resulting from the collaboration between the companies, which began in 2008.
Commencement of the single-center, placebo-controlled trial, which is designed to evaluate the single ascending doses of subcutaneous ALX-0761 injections, has triggered a milestone payment worth €2.5m to Ablynx.
Ablynx chairman and CEO Dr Edwin Moses said the first programme with Merck Serono is advancing into clinical development in less than five years of commencement of collaboration.
"We have now reached the point at which we will rely on Merck Serono’s considerable resources and expertise to take this programme forward," Moses added.
At this point of the development, Ablynx has opted to convert the co-discovery and co-development collaboration into a license agreement with Merck Serono gaining an exclusive worldwide license for ALX-0761.
In exchange, Ablynx will earn additional development milestone payments upon the advancement of the product in multiple indications, regulatory and commercial milestones in addition to royalties based on the product approval.