Wyeth closes 165 million Euros deal
Brussels – Just before the commencement of clinical trials, Ablynx, a Belgian biotech company which is developing a new class of drugs based on DNA, has closed a deal worth up a165 million with the US vaccines specialist Wyeth. The agreement allows Wyeth to develop a new generation of anti-TNF treatments for diseases such as rheumatoid arthritis using ultra-small nanobodies. Ablynx has granted exclusive worldwide rights for the use of the technology to target tumor necrosis factor alpha (TNFa), a protein implicated in inflammation, which is inhibited by existing injectable drugs such Wyeth’s Enbrel. Backed by this important pharma deal, Ablynx hopes to go public next year.