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...
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