Belgian biotech Ablynx has found a new Big Pharma partner for its antibody drug platform, striking a deal with U.S. drug powerhouse Merck ($MRK) focused on Nanobody candidates against a voltage gated ion channel and the option to elect a second target down the road. Merck joins a roster of Ablynx partners that includes Merck Serono, Boehringer Ingelheim and Novartis ($NVS) have tapped the biotech for the drugs based on an antibody fragment initially found in camel serum.
Ablynx says that drugs targeting ion channels to treat a variety of ailments account for nearly $14 billion in annual sales, yet none of those treatments is antibody-based. Merck and Ablynx aim to change that. Merck will pony up an upfront payment of 6.5 million euros ($8.4 million) and 2 million euro ($2.6 million) research fee for Ablynx for exclusive global rights to Nanobody candidates covered in the deal. The heavily back-ended deal promises Ablynx up to 448 million euros ($579.2 million) in potential development, regulatory and commercial payments as well as royalties.
The biotech has discovered Nanobody candidates which showed in preclinical tests that they could enhance or block activity of certain ion channels, which are involved in a range of diseases such as neurological disorders, diabetes, cancer and cardiovascular conditions.
"We are excited to be working with Ablynx to evaluate the potential of the Nanobody technology directed towards this challenging ion channel target," Richard Hargreaves, Merck's head of neuroscience discovery, said in a statement.
- here's the release
Special Report: Ablynx: Nanobodies