GHENT, BELGIUM--(Marketwire - October 12, 2009) -
GHENT, Belgium, 12 October, 2009 - Ablynx [Euronext Brussels: ABLX], today announced that it has reached a settlement with Domantis (part of the GlaxoSmithKline group of companies) concerning an alleged dispute relating to a settlement agreement which Ablynx and Domantis entered into in 2005.
Under the new agreement Ablynx has received a license to the European Winter II patent which lay at the heart of the dispute and in return will pay Domantis low single-digit royalties on the first five Nanobody® products which are commercialised.
Dr Edwin Moses, CEO and Chairman of Ablynx, commented: “We are very pleased to have settled with Domantis so that we can focus on our key goal of developing Nanobody® products and driving them through the clinic. We believe our investors want us, where possible, to put our resources into R&D productivity rather than litigation. The fact that there are two Nanobodies® in Phase II trials, and by the end of 2009 there will be a total of four in the clinic, is a testimony to the power and promise of our technology.”
Attachments: Complete version of the press release in English: http://hugin.info/137912/R/1347031/323743.pdf
This announcement was originally distributed by Hugin. The issuer is solely responsible for the content of this announcement.
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For international media enquiries:
College Hill Life Sciences
Sue Charles
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Ablynx:
Dr Edwin Moses
Chairman and CEO
t: +32 (0)9 262 00 07
m: +44 (0)7771 954 193 /
+32 (0)473 39 50 68
e: Email Contact
Eva-Lotta Allan
Chief Business Officer
t: +32 (0)9 262 00 75
m: +32 (0)475 78 36 21 /
+44 (0)7990 570 900
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