Ablynx extends Boehringer deal
Ghent – Boehringer Ingelheim and Ablynx NV have extended their large research and development deal. In January, the Belgian biopharmaceutical company and the German pharma firm signed an exclusive global collaboration potentially worth €200 million to discover and develop nanobody-based treatments for Alzheimer’s disease. Under the extended alliance, the two partners plan to develop nanobodies against ten targets supported by Boehringer. Nanobodies are single-domain antibody fragments derived from camelid antibodies that lack a light chain.
Boehringer will pay €15 million up front for an as-yet undecided stake in Ablynx, the first time the latter has taken such dilutive financing from a partner. Boehringer also will pay up to €60 million in research funding and milestones and up to €125 million in development milestones, plus royalties. Dr Andreas Barner, Vice-Chairman of the Board of Managing Directors and Head of Corporate Board Division Pharma Research, Development and Medicine of Boehringer Ingelheim said: “We hope that this broad collaboration will lead to breakthroughs for patients suffering from diseases which cannot be adequately treated at present.”