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Ablynx: Merck Serono may unwind deal

February 28, 2015 2:37 AM UTC

Ablynx N.V. (Euronext:ABLX) said during its 4Q14 earnings call that partner Merck Serono S.A. is likely to terminate a 2013 deal to develop Nanobodies against cancer, immunology and neurology targets. Ablynx did not respond to inquiries and Merck Serono declined to discuss the deal.

Ablynx said it has received EUR 11.5 million ($13.1 million) of the EUR 25 million ($28.4 million) in research funding it had expected to receive under the four-year deal, and that it thinks Merck Serono may not provide the remaining funding. ...