Ablynx receives $2.8 million grant to investigate nanobodies in eye disease treatment

Belgian drug developer Ablynx (Euronext Brussels: ABLX) has received a 2.1 million euros ($2.8 million) grant from the Flemish Agency for Innovation by Science and Technology. This is to help advance a wholly-owned program, exploring a new approach to treating eye diseases through the use of nanobodies. The grant is available for three years and will allow the development and testing of nanobody leads in pre-clinical disease models.

Tony De Fougerolles, chief scientific officer of Ablynx, said: “This grant is a further clear endorsement of the innovative potential of the Nanobody platform and its ability to generate differentiated drugs in disease areas which are scientifically challenging and which represent a high unmet medical need. Ophthalmology is an increasingly important area for many pharmaceutical companies as they seek to meet the demands of an ageing population. We are very grateful for the continued commitment by IWT to support world-class science in Belgium.”