Ablynx announced on September 30th 2009 that it has reached its second milestone under the terms of its collaboration with Wyeth Pharmaceuticals, triggering a payment of $4 million. The announcement came as a result of Wyeth’s initiation of a first Phase II multiple dose study in patients with rheumatoid arthritis for a Nanobody targeting tumour necrosis factor alpha. This trial comes after the successful completion of a Phase I study of health volunteers in the USA and Japan launched in December 2008.
Ablynx and Wyeth started their exclusive research collaboration and license agreement in November 2006, a deal potentially worth $212.5 million to Ablynx for the successful development and commercialisation of multiple products. In addition, Ablynx is eligible to receive royalties on product sales. Wyeth has exclusive rights to develop and commercialise anti-TNF-alpha Nanobodies developed under the collaboration.
