Boehringer Ingelheim and Ablynx, the biopharmaceutical company focused on the discovery and development of Nanobodies®, today jointly announced a major global strategic alliance to discover, develop and commercialise up to 10 different Nanobody® therapeutics. Ablynx expects to receive payments of EUR 75 million during the research term of the collaboration which includes EUR 15 million in a proposed equity investment by Boehringer Ingelheim in Ablynx. In addition, Ablynx will receive development milestone payments for each Nanobody® which is developed, of up to EUR 125 million as well as undisclosed royalties.
Ablynx and Boehringer Ingelheim will collaborate jointly in the discovery of Nanobodies® against agreed targets across multiple therapeutic areas including immunology, oncology and respiratory. Both parties will propose target opportunities for the collaboration with the goal of bringing Nanobody®-based products rapidly to patients in need. Boehringer Ingelheim will be exclusively responsible for the development, manufacture and commercialisation of any products resulting from the collaboration. Ablynx will have certain co-promotion rights in Europe.
Dr Edwin Moses, CEO and Chairman of Ablynx, said, "This is by far the largest financial agreement that Ablynx has signed to discover and develop innovative Nanobody® therapeutics. We are delighted to strengthen our existing relationship with Boehringer Ingelheim by working together to develop innovative products across multiple therapeutic areas, taking full advantage of the powerful Nanobody® discovery platform. This strategic alliance may provide the opportunity to grow Ablynxâs own product pipeline."
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 added, "Boehringer Ingelheim looks forward to an intensified cooperation with Ablynx based on their innovative Nanobody® approach. We hope that this broad collaboration will lead to breakthroughs for patients suffering from diseases which cannot be adequately treated at present."
About Ablynx
Ablynx is a biopharmaceutical company focused on the discovery and development of Nanobodies®, a novel class of therapeutic proteins based on single-domain antibody fragments, for a range of serious and life-threatening human diseases. The Company began operations in 2001 in Ghent, Belgium and currently employs over 100 employees. For further information, please visit http://www.ablynx.com
About Boehringer Ingelheim
The Boehringer Ingelheim group is one of the worldâs 20 leading pharmaceutical companies. Headquartered in Ingelheim, Germany, it operates globally with 137 affiliates in 47 countries and nearly 38,500 employees. Since it was founded in 1885, the family-owned company has been committed to researching, developing, manufacturing and marketing innovative products of high therapeutic value for human and veterinary medicine. In 2006, Boehringer Ingelheim posted net sales of EUR 10.6 billion while spending almost one fifth of net sales in its largest business segment Prescription Medicines on research and development. http://www.boehringer-ingelheim.com