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Ablynx reaches third Alzheimer's milestone

Boehringer Ingelheim has made a €5m milestone payment to Ablynx following the continued development of its nanobody candidate

Boehringer Ingelheim has made a €5m milestone payment to Ablynx following the continued development of its nanobody candidate.

In January 2007, Boehringer and Ablynx announced a worldwide research and licensing agreement to discover and develop new therapies for Alzheimer's disease using Ablynx's nanobodies against a single disease target.

The collaboration has a potential value of $265m in upfront and milestone payments and undisclosed royalties on product sales.

Boehringer is responsible for the development, manufacturing and commercialisation of any products resulting from the collaboration.

Dr Edwin Moses, chairman and chief executive of Ablynx, said: "We are delighted that Boehringer Ingelheim is making further progress with the nanobody lead candidate which has the potential to be a first-in-class therapy for Alzheimer's disease and we look forward to this product advancing into the clinic in 2012."

It is the second milestone payment that Ablynx has received as part of its Alzheimer's research collaboration with Boehringer.

30th June 2011

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