Novo Nordisk enters Nanobody accord with Ablynx

25 November 2015

Belgian drug developer Ablynx (Euronext Brussels: ABLX) has entered into a global exclusive collaboration and licensing agreement with Denmark’s Novo Nordisk (NOV: N) to discover and develop novel multi-specific Nanobody drug candidates for use in an undisclosed disease area, with an option to expand the agreement to include a second Nanobody program.

News of the deal pushed Ablynx’ shares 3.3% higher to 13.74 euros, while the Danish diabetes care giant edged up 1.9% to 382.60 Danish kroner.

Under the terms of the agreement, Ablynx will receive an upfront license fee of 5 million euros ($5.3 million) and up to 4 million euros in research funding during the initial three year research term of the collaboration. If Novo Nordisk decides to exercise the option to the second program, the company will pay Ablynx an exercise fee of 4 million euros.

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