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Ablynx NV's and Merck KGaA's Merck Serono's ALX-0761 Nanobody Enters in Phase I Clinical Trial; Ablynx NV to Receive Milestone Payments As Collaborator

Friday, 21 Jun 2013 01:30am EDT 

Ablynx NV announced that its partner Merck Serono, a division of Merck KGaA, Darmstadt, Germany, has dosed the first healthy volunteers in a Phase I clinical trial as part of the evaluation of the Nanobody, ALX-0761, for the treatment of inflammatory diseases. The Phase I study involves a single-centre, randomized, double-blind, placebo-controlled trial to assess the safety, pharmacokinetics and pharmacodynamics of single ascending doses of subcutaneous injections with ALX-0761 in healthy subjects. ALX-0761 is the first clinical Nanobody candidate to emerge from the collaboration which Ablynx NV and Merck Serono entered into in 2008. Ablynx NV has decided to convert the collaboration on ALX-0761 into a license agreement. As a result, Merck Serono has an exclusive worldwide license agreement for ALX-0761 and Ablynx NV is eligible to receive additional development milestone payments associated with the progress of the product in multiple indications as well as regulatory and commercial milestones plus tiered royalties upon approval of the product. The start of the Phase I study triggers a EUR 2.5 million milestone payment to Ablynx NV. 

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