AbbVie declines Ablynx option in RA

Ablynx N.V. (Euronext:ABLX) fell EUR 1.41 (13%) to EUR 9.50 after AbbVie Inc. (NYSE:ABBV) declined to exercise its option to license vobarilizumab (ALX-0061) to treat rheumatoid arthritis. Ablynx said it is seeking a new partner for vobarilizumab and beginning preparations for a Phase III study of the subcutaneous nanobody against IL-6 receptor ( CD126), which it expects to begin by YE17.

AbbVie spokesperson Raquel Powers told BioCentury the candidate "did not meet AbbVie's criteria for moving forward with full development in RA." AbbVie paid $175 million up front in 2013 for options to vobarilizumab in RA and systemic lupus erythematosus (SLE), for which AbbVie still has an option (see BioCentury Extra, Sept. 23, 2013). ...