Ablynx Receives a Second Milestone Payment From Nanobody Discovery and Development Alliance
The alliance was entered into in December 2005, and extended in 2007 and again in December 2008 for a further year. Under the terms of this ongoing agreement, Ablynx receives upfront fees, license fees and funding for research and development. In addition, Ablynx will be eligible for milestone payments and royalties upon commercialisation. Novartis has exclusive rights to develop and commercialise the Nanobody® products resulting from the collaboration. Financial terms are not disclosed.
Edwin Moses, CEO and Chairman of Ablynx, commented: “We are delighted that a second Nanobody® programme from our collaboration with Novartis is advancing to the next stage and we look forward to seeing these two programmes progressing towards development.”
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