Ablynx and Novo Nordisk will collaborate to discover and develop multi-specific nanobody drug candidates with an option to expand the agreement to include a second nanobody programme
Edwin Moses, CEO of Ablynx, said: "Our proprietary nanobody technology platform is ideally suited to develop multi-specific nanobody candidates that address multiple targets in a single drug molecule, applicable across a wide range of diseases.”
Under the terms of the agreement Ablynx will receive an upfront license fee of £3.5 million (€5m) and up to £2.8 million (€4m) in research funding during the initial three year research term of the collaboration.
If Novo Nordisk decides to exercise the second programme the company will pay Ablynx an additional exercise fee of £2.8 million (€4m).
Ablynx is also eligible to receive potential development, regulatory and commercial milestone payments of up to £128 million (€182m) per programme plus tiered royalties on the annual net sales on any products resulting from the collaboration.
Novo Nordisk will be responsible for the development, manufacturing and commercialisation of any products resulting from this agreement.
Moses said: “Today's agreement with Novo Nordisk is another endorsement of the power, broad applicability and versatility of our technology.”