Ablynx could earn up to $469 million in milestones for use of Nanobodies in oncology and immunology.
Ablynx and Merck Serono are collaborating to discover and develop Ablynx’ Nanobodies® against two targets in oncology and immunology. The agreement includes an initial payment to Ablynx of €10 million, or about $14.4 million. Total development and commercial milestones could reach up to $469 million should a product be approved in multiple indications in all major markets.
The companies will share R&D costs. Should Ablynx contribute equally to each program, it will be eligible to receive 50% of the resulting profits.
In addition, Ablynx will have an option to partly or fully opt-out of the partnership. If Ablynx does exercise this option, the company would be eligible to receive either a reduced profit share, in the case of a partial opt-out, or milestones and royalties on potential sales, in the case of a full opt-out.
Nanobodies are a class of therapeutic proteins that contain the structural and functional properties of naturally-occurring single domain antibodies.