Merck and Ablynx have entered into a partnership to develop Nanobody candidates against a voltage gated ion channel and includes an option to elect a second target.
As a part of the agreement, Ablynx will be responsible for the discovery of Nanobody candidates while Merck will be responsible for the research, development, manufacturing and commercialisation of any Nanobody product derived from the partnership.
Ablynx chairman and CEO Dr Edwin Moses said, "Due to the formatting flexibility of Nanobodies, we are able to combine antibody-like selectivity and multi-specificity in one molecule, making them ideal candidates for ion channel modulators."
Pursuant to the agreement, Merck wins exclusive global rights to Nanobodies against the selected target, with an option for similar rights to a second target.
Ablynx will receive a €6.5m upfront payment and a €2m fee for research funding besides €448m as research, regulatory and commercial milestone payments upon the advancement of multiple candidates, in addition to tiered royalties on any products derived from the collaboration.
Merck neuroscience discovery research vice president and head Richard Hargreaves said, "We are excited to be working with Ablynx to evaluate the potential of the Nanobody technology directed towards this challenging ion channel target."