Ablynx receives Euro 3m in milestone payments from Boehringer Ingelheim

Ablynx, a Belgian pioneer in the discovery and development of nanobodies, a novel class of antibody-derived therapeutic proteins, will receive milestone payments totalling Euro 3m from Boehringer Ingelheim as part of a collaboration with the company agreed in 2007.

Ablynx, a Belgian pioneer in the discovery and development of nanobodies, a novel class of antibody-derived therapeutic proteins, will receive milestone payments totalling Euro 3m from Boehringer Ingelheim as part of a collaboration with the company agreed in 2007.

The two companies are developing up to 10 nanobody therapeutics across a range of areas including immunology, oncology and respiratory diseases.

The deal covers potential milestone payments of up to €125m for each nanobody developed as well as undisclosed royalties to Ablynx.

Boehringer Ingelheim will be exclusively responsible for the development, manufacture and commercialisation of any products resulting from the collaboration.

Dr Edwin Moses, ceo and chairman of Ablynx, said: "We are delighted to have made such rapid progress in our collaboration with Boehringer Ingelheim. The payment of milestones is a tangible sign of important technical achievement and we anticipate making further such progress during 2009."

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