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GEN News Highlights : Sep 7, 2007

Ablynx and Boehringer Ingelheim Sign EUR 200M Nanobody Alliance

Collaborators plan to advance 10 such therapeutics.

Boehringer Ingelheim and Ablynx inked a Nanobody® therapeutics deal potentially worth over EUR 200 million for the latter company. The global strategic alliance will cover discover, develop, and commercialize up to 10 nanobody therapeutics.

Ablynx expects to receive payments of EUR 75 million during the research term of the collaboration. This includes EUR 15 million in a proposed equity investment. Ablynx also will receive development milestone fees for each Nanobody┬« that is developed up to EUR 125 million, as well as undisclosed royalties.

Ablynx and Boehringer Ingelheim will collaborate in the discovery of  nanobodies against agreed targets across multiple therapeutic areas including  immunology, oncology, and respiratory. Both parties will propose target opportunities.

Boehringer Ingelheim will be exclusively  responsible for the development, manufacture, and commercialization of any products resulting from the partnership. Ablynx will have certain co-promotion rights in Europe.