Ablynx gets eight million Euro milestone in Boehringer collaboration
Belgium’s Ablynx (Euronext Brussels: ABLX) and German family-owned Boehringer Ingelheim have initiated a Phase I study to evaluate the safety, tolerability and pharmacokinetics of single ascending doses of an anti-CX3CR1 Nanobody, administered intravenously.
The start of the study triggers an 8 million-euro ($9.1 million) milestone payment to Ablynx and brings the total number of Nanobodies that are currently in clinical development, both within Ablynx and in collaboration with pharmaceutical partners, to seven. The anti-CX3CR1 Nanobody was discovered and developed as part of a long-standing Strategic Alliance between both parties and Ablynx is entitled to receive further milestones and royalties if the product proceeds through development and then to commercialization.
Potential milestones of 125 million euros
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