Ablynx, Merck KGaA deal

Ablynx and Merck's Merck Serono S.A. unit 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 €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 Merck Serono, Ablynx will be eligible for a €15 million ($20.9 million) milestone payment (see BioCentury, Sept. 8, 2008). ...