BRIEF-Ablynx, Merck sign cancer immunotherapy collaboration, licensing agreement

BRUSSELS Mon Feb 3, 2014 1:28am EST

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BRUSSELS Feb 3 (Reuters) - Ablynx NV : * Announces worldwide cancer immunotherapy discovery collaboration and licensing agreement with Merck * Collaboration, licensing agreement is focused on the discovery and development of several predefined nanobody candidates * Co will receive an upfront payment of 20 mln euros; up to 10.7 mln euros in research funding during the initial three year * Is eligible to receive development, regulatory and commercial milestone payments on achieved sales threshold * Has ultimate potential to accrue as much as 1.7 bln euros plus tiered royalties

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