Boeh Ing and Ablynx sign development deal

German drugmaker Boehringer Ingelheim and Belgian biopharmaceutical firm Ablynx have entered into an accord to discover, develop and commercialize up to 10 new drugs, based on the latter's Nanobody therapeutics technology. Earlier this year, Ablynx granted the German company rights to use its technology in the development of an Alzhimer's disease therapy in an agreement worth $265.0 million (Marketletter January 15).

Under the terms of new deal, which will see Ablynx receive payments totaling around 75.0 million euros ($102.6 million) including a 15.0 million-euro equity investment from Boehringer, the firms will collaborate on the identification of drugs for multiple targets, to be suggested by both parties, across multiple therapeutic areas. Boehringer is exclusively responsible for all subsequent development, manufacture and collercialization of any candidates that emerge, while Abylnx retains certain co-promotion rights for the European market.

Edwin Moses, Ablynx' chief executive, said that the Boehringer deal is the largest nanobody development accord it has signed so far, surpassing its agreements with Wyeth and Procter & Gamble (Marketletters passim). Andreas Barner, vice chairman of Boehringer's board of managing directors, said that the firm looked forward to furthering its relationship with Ablynx, and hopes that the collaboration will produce innovative treatments for a broad range of diseases.