Ablynx secures first €1m milestone payment from Novo Nordisk

pharmafile | December 5, 2016 | News story | Sales and Marketing Ablynx, Novo Nordisk, nanobody 

Ablynx has secured €1 million from Novo Nordisk as it hits its first discovery milestone for its multi-specific nanobody construct, following the decision by the two companies in November of last year to join forces in a nanobody research partnership.

This €1 million payment falls on top of the €5 million Ablynx already received upfront. The company will continue to receive up to €4 million in research funding over the next three years, and is eligible to make up to €182 million in milestone payments and tiered royalties, while Novo takes care of development, manufacturing and commercialisation of new products.

“Our proprietary nanobody technology platform is ideally suited to develop multi-specific nanobody candidates that address multiple targets in a single drug molecule,” commented CEO Edwin Moses. “The achievement of our first milestone just one year after we entered into the collaboration with Novo Nordisk is an endorsement of the power of our platform to rapidly generate novel, potent drug candidates against disease targets, which are difficult to address with other technologies. We are looking forward to further advancing the programme and the nanobody potentially progressing towards clinical studies in 2018.”

Advertisement

Matt Fellows

Related Content

hsm_mobile_clinical_trial_istock-872676342

FDA approves Wegovy for treatment of MASH in adults with liver fibrosis

The US Food and Drug Administration (FDA) has granted accelerated approval for Wegovy (semaglutide) as …

BioMed X and Novo Nordisk partner on oral peptide drug delivery innovation

BioMed X has announced a new collaboration with Novo Nordisk to improve oral delivery of …

obesity

Pila Pharma raises SEK 20m to advance new oral obesity treatment

Swedish biotech, Pila Pharma, has raised nearly SEK 20m, equivalent to €1.7m in a capital …

The Gateway to Local Adoption Series

Latest content