Novo Nordisk taps Ablynx in a $400M deal

Novo Nordisk ($NVO) signed a deal with Ablynx worth up to €377 million ($400 million) to collaborate on so-called nanobodies, antibody fragments designed to split the difference between biologics and small-molecule drugs. Under the agreement, Novo is paying Ablynx €5 million up front to license a discovery-stage nanobody targeting an undisclosed disease, promising €4 million more in research funding over three years. Novo also has the right to license a second compound for another €4 million, and Ablynx is due as much as €182 million per program in down-the-road milestone payments. More

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