Date: 2016-11-30
Type of information: Milestone
Compound: multi-specific Nanobody® drug candidates
Company: Ablynx (Belgium) Novo Nordisk (Denmark)
Therapeutic area: undisclosed
Type agreement: research - R&D
Action mechanism:
Disease: undisclosed
Details:
- • On November 25, 2015, Ablynx announced that it has entered into a global exclusive collaboration and licensing agreement with Novo Nordisk to discover and develop novel multi-specific Nanobody® drug candidates for use in an undisclosed disease area, with an option to expand the agreement to include a second Nanobody programme.
Financial terms:
- Under the terms of the agreement, Ablynx will receive an upfront license fee of €5 million and up to €4 million in research funding during the initial three year research term of the collaboration. If Novo Nordisk decides to exercise the option to the second programme, the Company will pay Ablynx an exercise fee of €4 million. In addition, Ablynx is eligible to receive potential development, regulatory and commercial milestone payments of up to €182 million per programme plus tiered royalties on the annual net sales on any products resulting from the collaboration. Novo Nordisk will be responsible for the development, manufacturing and commercialisation of any products resulting from this agreement.
Latest news: • On November 30, 2016, Ablynx announced that it has achieved an initial discovery milestone with a multi-specific Nanobody construct as part of its collaboration with Novo Nordisk, triggering a €1 million milestone payment to Ablynx. The company is now looking forward to further advancing the programme and the Nanobody potentially progressing towards clinical studies in 2018.
Is general: Yes
