Ablynx and Procter & Gamble Form Nanobody Drug Discovery and Development Partnership
Monday July 19, 8:07 am ET
GHENT, Belgium, July 19 /PRNewswire/ -- Ablynx, a pioneer in the discovery and development of Nanobodies(TM), a new class of therapeutic antibodies, today announced that they have entered into a drug discovery and development partnership with Procter & Gamble Pharmaceuticals, Inc. (P&GP), a subsidiary of The Procter & Gamble Company (NYSE: PG - News). Through this agreement, Ablynx will use its unique and patent protected Nanobody platform to discover and develop drug candidates against a G-protein coupled receptor (GPCR) target specified by P&GP.
Nanobodies(TM) are a novel class of therapeutics that combines the advantages of conventional antibodies with key features of small-molecule drugs. As the smallest functional fragment of naturally occurring single-domain antibodies, Nanobodies(TM) can address therapeutic targets not easily recognized by conventional antibodies, including active sites of enzymes and receptors, such as GPCRs. Additionally, Nanobodies(TM) can be produced cost-effectively at large-scale, have a long shelf-life, and can be administered through non-injectable means. Since commencing operations in 2002, Ablynx has generated 3 pre-clinical programs in the areas of inflammation and thrombosis and several discovery programs in the areas of oncology and CNS.
Under terms of the partnership, P&GP will provide Ablynx with research and development funding, pre-determined milestone payments, and royalties upon commercialization. Ablynx will be responsible for discovering Nanobodies(TM) that meet a pre-defined product profile. P&GP will assume responsibility for the pre-clinical and clinical development of lead Nanobodies(TM), as well as the commercialization of any resulting drug products.
"Procter & Gamble Pharmaceuticals has a strong commitment to biotechnology alliances and has a proven record of development and marketing excellence worldwide," stated Dr. Mark Vaeck, Ablynx's CEO. "This partnership represents a further validation of our Nanobody platform and we are very pleased to be working with P&GP on such an important program."
"We are delighted to initiate this relationship. The Ablynx Nanobody platform is extremely promising for a wide range of applications and we believe there is an excellent fit for collaboration between our organizations. We look forward to a productive and sustaining relationship," said Douglas W. Axelrod MD, Ph.D., R&D Manager, Discovery and Early Development, Procter & Gamble Pharmaceuticals.
About Ablynx
Ablynx is a biopharmaceutical company engaged in the discovery and development of Nanobodies(TM), a novel class of therapeutic antibodies, for a range of serious human diseases. Because of their small size, unique structure and unparalleled stability, Nanobodies(TM) combine the advantages of conventional antibodies with some features of small-molecule drugs. Ablynx has an unrivaled patent portfolio in the field of single domain antibodies with granted composition of matter claims both in the USA and Europe. Headquartered in Ghent, Belgium, Ablynx has raised over 33 million (over $40 million) from a strong investor consortium including Abingworth Management (UK), Alta Partners (USA), Sofinnova Partners (France), Gilde Investment Management (The Netherlands) and GIMV (Belgium). Currently the company employs 30 people. |
