Ablynx and Novartis entered into a commercial licensing
agreement in July 2010, under which Novartis obtained
licenses to develop and commercialise Nanobodies against two
targets (including this one for which an IND has been
approved), which originated from the research agreement
between the parties, entered into in 2005. Since July 2010,
Novartis has full responsibility for the continued progress
of both programmes and Ablynx is eligible to receive
development-based milestone payments and royalties on sales
following commercialisation of the products.
Dr Edwin Moses, CEO and Chairman of Ablynx, commented:
"We are excited that Novartis has obtained IND approval and
that they will bring this first Nanobody into clinical
development in an oncology setting. This development
candidate demonstrates the power of the Nanobody platform in
addressing complex target classes that are challenging to
address with conventional antibodies."
An IND is an application that a drug sponsor must submit to U.S. Food and Drug Administration (FDA) before beginning tests of a new drug on humans. The IND package contains the plan for the study and is supposed to give a complete picture of the drug, including its structural formula, animal test results and manufacturing information. The equivalent in Europe is called an Investigational Medicinal Product Dossier (IMPD).
About AblynxAblynxis a biopharmaceutical company engaged in the
discovery and development of
Nanobodies
®, a novel class of therapeutic proteins based on
single-domain antibody fragments, for a range of serious and
life-threatening human diseases, including inflammation,
haematology, oncology and pulmonary disease. Today, the
Company has over 25
programmes in
the
pipelineand seven Nanobodies at clinical
development stage. Ablynx has ongoing research collaborations
and significant partnerships with major pharmaceutical
companies, including
Boehringer Ingelheim, Merck Serono and Novartis. The Company
is headquartered in Ghent, Belgium. More information can be
found on www.ablynx.com.
Dr Edwin Moses
Chairman and CEO
t: +32 (0)9 262 00 07
m: +44 (0)7771 954 193 /
+32 (0)473 39 50 68
e: edwin.moses@ablynx.com
Marieke Vermeersch Investor Relations Manager t: +32 (0)9 262
00 82
m: +32 (0)479 49 06 03
e: marieke.vermeersch@ablynx.com
Mary-Jane Elliott, Amber Bielecka, Claire Dickinson t: +44
207 920 2330
e: ablynx@mcomgroup.com
Certain statements, beliefs and opinions in this press release are forward-looking, which reflect the Company's or, as appropriate, the Company's directors' current expectations and projections about future events. By their nature, forward-looking statements involve a number of risks, uncertainties and assumptions that could cause actual results or events to differ materially from those expressed or implied by the forward-looking statements. These risks, uncertainties and assumptions could adversely affect the outcome and financial effects of the plans and events described herein. A multitude of factors including, but not limited to, changes in demand, competition and technology, can cause actual events, performance or results to differ significantly from any anticipated development. Forward looking statements contained in this press release regarding past trends or activities should not be taken as a representation that such trends or activities will continue in the future. As a result, the Company expressly disclaims any obligation or undertaking to release any update or revisions to any forward-looking statements in this press release as a result of any change in expectations or any change in events, conditions, assumptions or circumstances on which these forward-looking statements are based. Neither the Company nor its advisers or representatives nor any of its or their parent or subsidiary undertakings or any such person's officers or employees guarantees that the assumptions underlying such forward-looking statements are free from errors nor does either accept any responsibility for the future accuracy of the forward-looking statements contained in this press release or the actual occurrence of the forecasted developments. You should not place undue reliance on forward-looking statements, which speak only as of the date of this press release.
distributed by | This press release was issued by Ablynx NV and was initially posted at http://www.ablynx.com/newsroom/openpdf.php?id=aHR0cDovL2N3cy5odWdpbm9ubGluZS5jb20vQS8xMzc5MTIvUFIvMj AxMjA0LzE1OTg5MDgueG1s . It was distributed, unedited and unaltered, by noodls on 2012-04-02 07:22:44 AM. The issuer is solely responsible for the accuracy of the information contained therein. |