Ablynx, Merck Serono sign research alliance
BRUSSELS, Sept 26
BRUSSELS, Sept 26 (Reuters) - Belgian biopharmaceutical company Ablynx and Merck Serono said on Thursday they had expanded their ties with the creation of a research alliance that could lead to the development of at least four agents to treat disease.
Merck Serono, the biopharma division of Merck KGaA , will fund a discovery group at Ablynx and the two will jointly select disease targets. The Ablynx team will seek to identify tiny nanobodies to tackle these during a four-year alliance.
Merck Serono will provide 25 million euros ($33.77 million)in funding over the first four years, including an initial payment of 11.5 million euros. ($1 = 0.7403 euros) (Reporting By Philip Blenkinsop)