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Merck signs cancer deal with Belgian biotech that could rise to €1.7B.

  • Merck (MRK) has signed an agreement with Belgian biotech Ablynx (ABLYF) to develop cancer immunotherapies in a deal that could eventually be worth €1.7B plus royalties on the sales of any products.
  • Merck will pay an initial sum of €20M and up to €10.7M in R&D financing during an initial three-year period. The U.S. company will then make payments based on the achievement of development, regulatory and commercial milestones.
  • Ablynx will work on discovering antibody-derived proteins, known as nanobodies, that can activate the immune system to attack cancer cells.
  • The agreement adds to a neurology partnership that Merck and Ablynx began in 2012.
Comments (1)
  • greencharlie
    , contributor
    Comments (5) | Send Message
     
    Ablynx is focused on the discovery and development of an entirely new class of drugs based on Nanobodies. The Nanobodies Ablynx is developing are based on specific antibodies found in llamas.These Nanobodies are about ten times smaller than the 1st generation drugs based on antibodies and are very stable. Ablynx has developed a platform to develop new medicines based on this unique Nanobodies.
    Belgian biotech is considered one of the best and most innovative in the world.

     

    Analysts at KBC Securities on 03-02-2014 repeat their buy recommendation for
    Belgian biopharmaceutical company Ablynx (ISIN: BE0003877942 / Mnemo: ABLX).
    The 12-month target price is revised upwards from € 12.50 to € 13.00.

     

    In 2012, the price-earnings ratio was (calculated using the year-end closing price of the share in 2012) -9.00.
    The forward PE (the closing price on 31-01-2014 divided by the earnings per share in 2012) is -11.14.
    About 2012, the company reported a turnover of € 26.73 million
    9 Feb, 12:36 PM Reply Like
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