Ablynx has started an IND-enabling toxicology study with a bi-specific Nanobody as part of its immuno-oncology collaboration with Merck. This milestone triggers a €2.5 million payment to Ablynx.
The Nanobody is a bi-specific molecule that selectively binds to two different immune modulators, believed to be key targets for the development of potent immunotherapies. Upon successful completion of the IND package, this bi-specific Nanobody could be the first candidate to enter clinical studies as part of this collaboration.
Dr. Edwin Moses, chief executive officer of Ablynx, said, "We are very pleased with the progress made in this collaboration. We believe that the combination of Ablynx's Nanobody expertise with the world-leading position of our partner in the immuno-oncology area has the potential to develop important new medicines for diseases with a high unmet need. We look forward to further milestones as product candidates progress through pre-clinical and clinical development."
The companies entered into a research collaboration and licensing agreement in 2014 focused on the discovery and development of several Nanobody candidates directed toward immune checkpoint modulators. In July 2015, the companies expanded the collaboration to address an increased number of immune checkpoint modulator targets. The collaboration now includes as many as 17 Nanobody programs. Ablynx has received €33 million in upfront payments and is eligible to receive research funding, development, regulatory and commercial milestone payments of as much as €340 million per program, as well as royalties on sales.
