Ablynx enters deal with Wyeth Pharmaceuticals to discover, develop and commercialise Nanobodies directed at the tumour necrosis factor alpha protein and its receptors
Ablynx and Wyeth will collaborate to advance these novel biologics through preclinical development.
Ablynx will receive an initial payment, research support and milestone payments.
Potential payments to Ablynx could total up to $212.5 million for the successful development and commercialisation of multiple products.
In addition Ablynx will receive royalties on product sales.
The alliance is based on Ablynx's novel Nanobody platform that can be used to rapidly, create novel biopharmaceuticals with distinct advantages over current biologics.
Edwin Moses, chief executive officer of Ablynx commented: "We are delighted to have established this strategic collaboration.
"Wyeth has a proven track record in the discovery, development, manufacturing and commercialisation of novel biopharmaceuticals with demonstrated success with Enbrela".
"Wyeth is enthusiastic about this new partnership with Ablynx.
"Ablynx is an exciting European biotechnology company that has established the feasibility of their novel Nanobody platform by generating Nanobodies to more than twenty different targets," said Frank Walsh, executive vice president, head of discovery research, Wyeth Pharmaceuticals.
"We look forward to a productive and long lasting partnership with Ablynx."
