Ablynx identifies novel Nanobodies achieving second milestone in Procter & Gamble collaboration
Ablynx has announced that its collaboration agreement with Procter & Gamble Pharmaceuticals Inc. (P&GP), a division of The Procter & Gamble Company, has reached a second milestone. Ablynx has discovered novel Nanobodies® against a second target for possible new treatments in the musculoskeletal area. The first milestone under this collaboration was achieved in December 2006 and was also a target for musculoskeletal diseases.
Ablynx's patented Nanobody® technology has been used to rapidly identify a highly diverse and potent panel of Nanobodies® against one of the targets exclusive to the collaboration, triggering a second undisclosed milestone payment.
As part of this on-going collaboration Ablynx is responsible for discovering Nanobodies® that meet an agreed product profile. P&GP is responsible for the pre-clinical and clinical development of Nanobodies®, as well as the commercialization of any resulting drug products.
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