$4 million milestone for Ablynx in Nanobody deal with Wyeth

Belgium's Ablynx has reached a second milestone under the terms of its collaboration with Wyeth Pharmaceuticals, a division of Wyeth, which is in the process of being acquired by fellow USA-based  drug giant Pfizer. The milestone of $4 million has been triggered by the initiation by Wyeth of a first Phase II multiple dose study in patients with rheumatoid arthritis for a Nanobody targeting tumor necrosis factor alpha (TNF-alpha).

Wyeth entered into a Phase I study in healthy volunteers in December 2008 in the USA and Japan. Based on a successful conclusion of that study, where the Nanobody was safe and well tolerated, Wyeth has today initiated a multiple dose Phase II study in RA patients. Ablynx entered into an exclusive research collaboration and license agreement with Wyeth Pharmaceuticals in November 2006, a deal potentially worth $212.5 million for the successful development and commercialisation of multiple products. In addition, Ablynx is eligible to receive royalties on product sales. Wyeth has exclusive rights to develop and commercialize anti-TNF-alpha Nanobodies developed under the collaboration. TNF-alpha is a key drug target in combating inflammation related disorders such as rheumatoid arthritis, Crohn's disease, psoriatic arthritis and ankylosing spondylitis.