Ablynx secures first €1m milestone payment from Novo Nordisk

pharmafile | December 5, 2016 | News story | Sales and Marketing Ablynx, Novo Nordisk, nanobody 

Ablynx has secured €1 million from Novo Nordisk as it hits its first discovery milestone for its multi-specific nanobody construct, following the decision by the two companies in November of last year to join forces in a nanobody research partnership.

This €1 million payment falls on top of the €5 million Ablynx already received upfront. The company will continue to receive up to €4 million in research funding over the next three years, and is eligible to make up to €182 million in milestone payments and tiered royalties, while Novo takes care of development, manufacturing and commercialisation of new products.

“Our proprietary nanobody technology platform is ideally suited to develop multi-specific nanobody candidates that address multiple targets in a single drug molecule,” commented CEO Edwin Moses. “The achievement of our first milestone just one year after we entered into the collaboration with Novo Nordisk is an endorsement of the power of our platform to rapidly generate novel, potent drug candidates against disease targets, which are difficult to address with other technologies. We are looking forward to further advancing the programme and the nanobody potentially progressing towards clinical studies in 2018.”

Matt Fellows

Related Content

CHMP recommends Novo Nordisk’s Awiqli for diabetes treatment

Novo Nordisk has announced that the European Medicines Agency’s (EMA) Committee for Medicinal Products for …

Almirall licenses Novo Nordisk’s anti-IL-21 monoclonal antibody for dermatology treatment

Almirall has announced that it has entered into an exclusive license agreement with Novo Nordisk …

Novo Nordisk shares positive results from COMBINE 3 phase 3a trial

Novo Nordisk has shared topline results from the COMBINE 3 phase 3a trial of once-weeklly …

Latest content