|Sanofi further committing to develop nanobodies with Ablynx:|
GHENT, Belgium, 16 February 2018 - Ablynx [Euronext Brussels and Nasdaq: ABLX] today announced that Sanofi has exercised its option to license two additional target combinations as part of the research collaboration signed in July 2017, focussed on developing and commercialising Nanobody®-based therapeutics for the treatment of various immune-mediated inflammatory diseases.
Under the terms of the agreement, Sanofi gains exclusive global rights to two additional multi-specific Nanobodies against selected targets and in return will pay Ablynx exercise fees totalling €13 million plus additional research funding. Multi-specific Nanobodies provide the ability to address different pathway or disease targets with one therapeutic molecule. Ablynx has already received an upfront payment totalling €23 million, together with research funding under this collaboration.
Sanofi will be responsible for the development, manufacturing and commercialisation of any products resulting from this agreement comprising up to eight programmes. Ablynx will be eligible to receive development, regulatory and commercial milestone payments of up to €2.4 billion plus tiered royalties up to low double digits on the net sales of any products originating from the collaboration...