Ablynx, Merck Serono in second Nanobodies deal

Ablynx N.V. (Euronext:ABLX) and partner Merck Serono S.A. formed a second deal to co-discover and co-develop Nanobodies against an inflammatory disease target. The companies originally partnered in 2008 to co-discover and co-develop Nanobodies against two targets in cancer and immunology. Under the new deal, Ablynx will receive EUR 10 million ($13.9 million) up front and will be responsible for all development and costs, excluding manufacturing costs, up to the delivery of a preclinical package that will form the basis of an IND submission. Upon acceptance of the package by the Merck KGaA (Xetra:MRK) unit, Ablynx will be eligible for a EUR 15 million ($20.9 million) milestone payment. ...