Ablynx signs exclusive licensing agreement with Eddingpharm
To develop and commercialise anti-rankl nanobody in China for osteoporosis and bone metastases
Ablynx has granted an exclusive license to Eddingpharm, a leading Chinese specialist pharmaceutical company, to develop and commercialise its anti-RANKL nanobody in mainland China, Hong Kong and Macao, and Taiwan, for all indications, including osteoporosis and bone metastases.
Eddingpharm will pay Ablynx €2m upfront and will receive commercial milestone payments plus tiered, double-digit royalties of up to 20%, based on annual net sales.
Under the terms of the agreement, Eddingpharm will be responsible for the clinical development, registration and commercialisation in China of Ablynx's anti-RANKL nanobody therapeutics. Ablynx will have access to the data generated by Eddingpharm to support potential licensing in other geographic regions.
This nanobody, known as ALX-0141, is a bivalent bi-specific therapeutic molecule composed of two nanobodies targeting the Receptor Activator of Nuclear factor Kappa-B Ligand (RANKL). This construct is linked to a nanobody that binds to human serum albumin, extending the drug’s in vivo half-life, and which may in turn lead to preferential targeting of diseased tissue.
Eddingpharm is well-positioned to further develop and commercialise ALX-0141 in Greater China
A Phase I study in healthy post-menopausal women showed that a single administration of ALX-0141 has a strong and very long-lasting inhibitory effect on bone resorption biomarkers and was well tolerated with no serious side-effects, said Ablynx.
Dr Edwin Moses, Chairman and CEO of Ablynx, said: 'Eddingpharm is well-positioned to further develop and commercialise ALX-0141 in Greater China, which represents a rapidly growing area for bone related disorders. Our nanobody has strong potential in this market, with very good efficacy, as measured by biomarkers, and a clean safety profile.'
According to a report by Transparency Market, the global market for drugs to treat osteoporosis will reach US$11.4bn by 2015, growing at a compound annual growth rate (CAGR) of 9.2% from 2010–2015.
The study also expects the market in China for osteoporosis treatments to increase at a CAGR of 13.5% in the same period, totalling $2.5bn by 2015.
Increased prevalence of osteoporosis among Chinese women is the principal growth driver, in addition to an ageing population, rising living standards and increasing awareness and bone health education in China.
Global Data forecasts that the global market for bone metastasis will reach $6.4bn by 2017, with China accounting for approximately 22%.