Ablynx off on Pfizer deal termination

Ablynx N.V. (Euronext:ABLX) fell EUR 0.65 (18%) to EUR 2.93 on Friday after Pfizer Inc. (NYSE:PFE) terminated a 2006 deal and returned rights to Nanobodies against tumor necrosis factor (TNF) alpha, including ATN-103 and PF-05230905. Pfizer made the move following a portfolio review, according to Ablynx.

In May, the companies reported that ATN-103 met the primary endpoint in a Phase II trial for rheumatoid arthritis (RA). PF-05230905 is in Phase I testing for autoimmune diseases. Pfizer is now eligible for up to $50 million in sublicensing milestones, plus royalties. ...