Pfizer returns rights to TNF-alpha targeting nanobodies to Ablynx

7 November 2011

Shares of Belgian drug developer Ablynx [Euronext Brussels: ABLX] fell 18.2% to 2.93 euros in morning trading on Friday (November 4) as the company announced that pharma behemoth Pfizer (NYSE: PFE), as part of its portfolio review process, has returned worldwide rights to develop and commercialize nanobodies targeting TNF-alpha.

These rights include the product ATN-103, for which positive proof-of-concept data from a Phase II trial in rheumatoid arthritis (RA) were announced in May of this year; and the product PF-05230905, which is in Phase I trials. Ablynx will undertake a detailed review of the programs before deciding how to proceed.

The 2006 agreement which Ablynx entered into with Wyeth (acquired by Pfizer in 2009) has been terminated and all licensed rights under Ablynx intellectual property relating to the anti-TNF-alpha programs are being returned to Ablynx.

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