WHITEHOUSE STATION (dpa-AFX) - Ablynx (ABLYF.PK) announced an extension of its initial two-year research collaboration with Merck & Co. Inc. (MRK), to develop and commercialise Nanobody candidates directed towards an undisclosed voltage gated ion channel.
Ablynx said that Merck & Co will extend their funding of the research collaboration with Ablynx to the end of September 2016. This ion channel collaboration was announced in October 2012 and included a 6.5 million euros upfront payment and 2 million euros in initial research funding.
Merck and Ablynx have a separate collaboration in the field of cancer immuno-therapy, announced in February in 2014, with a 20 million euros upfront payment, 10.7 million euros in research funding and total potential milestone payments of up to 1.7 billion euros plus royalties.
In October 2012, Ablynx and a subsidiary of Merck & Co entered into a collaboration to develop and commercialise Nanobody candidates directed towards a voltage gated ion channel, with the option to develop and commercialise a Nanobody to a second target. As per the terms of the agreement, Merck gains exclusive global rights to Nanobodies against the selected target, with an option for similar rights to a second target. Upon signing, Merck paid Ablynx a 6.5 million euros upfront payment.
In addition, Ablynx is eligible to receive research funding and up to 448 million euros in research, regulatory and commercial milestone payments associated with the progress of multiple candidates, as well as tiered royalties on any products derived from the collaboration.
Ablynx is responsible for the discovery of Nanobody candidates and Merck is responsible for the research, development, manufacturing and commercialisation of any Nanobody product resulting from the collaboration.
Copyright RTT News/dpa-AFX