Nanobody handover nets Ablynx milestone payment

22 May 2017

Belgian biotech Ablynx (Euronext Brussels: ABLX) has completed the preparation of a pre-clinical package for the novel Nanobody, ALX-1141 in osteoarthritis, a milestone in its collaboration with Merck KGaA (MRK: DE).

The German pharma major has accepted the pre-clinical package, triggering the 15 million euro ($16.9 million) milestone payment to Ablynx and meaning that Merck KGaA is now responsible for further clinical development of the molecule.

"With no disease-modifying drugs approved for osteoarthritis, there is a huge unmet need"

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