Ablynx, Merck extend Nanobodies deal

Ablynx N.V. (Euronext:ABLX) and Merck & Co. Inc. (NYSE:MRK) extended a deal to discover and develop Nanobodies targeting undisclosed immune checkpoint modulators for cancer. The deal will be extended for four years and include 12 additional Nanobodies, which are therapeutic proteins based on a single-domain antibody fragment.

Ablynx will be responsible for preclinical development of Nanobody candidates through proof of concept, after which Merck has the option to license exclusive, worldwide rights and take responsibility for development and commercialization. Ablynx will receive EUR 13 million ($14.1 million) up front and is eligible for EUR 340 million ($369.3 million) in milestones for each candidate, plus royalties. ...