AbbVie Will Pay Up To $840M For Ablynx Licensing Deal

Law360, New York (September 23, 2013, 1:54 PM EDT) -- AbbVie Inc. has inked a licensing agreement with Belgian biopharmaceutical company Ablynx NV that could see AbbVie paying up to $840 million to develop and commercialize an experimental drug for lupus and rheumatoid arthritis, the companies said Monday.

Under the deal, AbbVie will pay Ablynx $175 million upfront to fund additional clinical development for Ablynx's ALX-0061 nanobody and will shell out up to $665 million if certain development, regulatory, commercial and sale-based milestones are hit, the companies said.

Ablynx Chairman and CEO Edwin Moses said in...
To view the full article, register now.

UK Financial Services

UK Financial Services

Read Our Latest UK Financial Services Coverage

Financial Services Law360 UK provides breaking news and analysis on the financial sector. Coverage includes UK and European Union policy, enforcement, and litigation involving banks, asset management firms, and other financial services organizations.