Ghent, Belgium-based Ablynx, a pioneer in the discovery and development of Nanobodies, a novel class of antibody-derived therapeutic proteins, says that its drug discovery and development alliance with Swiss drug major Novartis has been extended for another year.
Under the terms of the agreement, entered into in December 2005, the companies are collaborating to discover and develop novel Nanobody-based therapeutics against disease targets that are difficult to address with conventional antibodies or their fragments. Novartis has exclusive rights to develop and commercialize the products resulting from the collaboration.
This agreement was previously extended in December 2007 and, based on the positive progress made, the companies have mutually agreed to extend their alliance for another year. As part of the collaboration Ablynx receives license fees and funding for research and development. In addition, it is eligible for milestone payments and royalties upon commercialization.
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