February 16, 2018 / 7:21 AM / 4 months ago

BRIEF-Ablynx Announces Option Exercise By Sanofi To License Two Additional Target Combinations​

Feb 16 (Reuters) - ABLYNX NV:

* ABLYNX ANNOUNCES OPTION EXERCISE BY SANOFI FOR TWO ADDITIONAL MULTI-SPECIFIC NANOBODY PRODUCT CANDIDATES

* SANOFI HAS EXERCISED ITS OPTION TO LICENSE TWO ADDITIONAL TARGET COMBINATIONS​

* ‍OPTION AS PART OF RESEARCH COLLABORATION SIGNED IN JULY 2017​

* ‍SANOFI GAINS EXCLUSIVE GLOBAL RIGHTS TO TWO ADDITIONAL MULTI-SPECIFIC NANOBODIES AGAINST SELECTED TARGETS​

* ‍IN RETURN SANOFI WILL PAY ABLYNX EXERCISE FEES TOTALLING EUR 13 MILLION PLUS ADDITIONAL RESEARCH FUNDING​

* ‍ABLYNX HAS ALREADY RECEIVED AN UPFRONT PAYMENT TOTALLING EUR 23 MILLION

* ‍RECEIVED AN UPFRONT PAYMENT IS TOGETHER WITH RESEARCH FUNDING UNDER THIS COLLABORATION​

* ‍SANOFI WILL BE RESPONSIBLE FOR DEVELOPMENT, MANUFACTURING AND COMMERCIALISATION OF ANY PRODUCTS RESULTING FROM THIS AGREEMENT​

* ‍ABLYNX WILL BE ELIGIBLE TO RECEIVE DEVELOPMENT, REGULATORY AND COMMERCIAL MILESTONE PAYMENTS OF UP TO EUR 2.4 BILLION PLUS TIERED ROYALTIES​ Source text for Eikon: Further company coverage: (Gdynia Newsroom)

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