Biotech Values

[DewDiligence]

Ablynx, the Belgian biotech, just lost PG as a partner.
The PR spins this as a positive development, of course.

http://www.ablynx.com/newsroom/index.php

›Ablynx Expands Its Musculoskeletal Portfolio by Taking P&G Pharmaceuticals’ Programme In-House

GHENT, Belgium, 20 January, 2009 - Ablynx [Euronext Brussels: ABLX], a pioneer in the discovery and development of Nanobodies®, a novel class of antibody-derived therapeutic proteins, has expanded its musculoskeletal research portfolio by transferring in-house full ownership of a bone disorder R&D programme initiated under its collaboration with Procter & Gamble Pharmaceuticals.

This is Ablynx’s second musculoskeletal programme and it complements ALX-0141, Ablynx’s Nanobody® against Receptor Activator for Nuclear Factor kappa B Ligand (RANKL) which is in preclinical development.

Together, the two programmes target different mechanisms to treat bone disorders such as osteoporosis. Ablynx plans to accelerate this second bone disorder programme towards preclinical development, once the best lead candidate Nanobody® has been selected.

“We are delighted to have reached agreement with P&G Pharmaceuticals. It fits with our strategy to expand our in-house pipeline. Ablynx has the resources and expertise to accelerate the programme which we believe could offer an important new approach to osteoporosis therapy,” said Dr Edwin Moses, Chairman and Chief Executive Officer of Ablynx.

Ablynx’s research collaboration with Procter & Gamble Pharmaceuticals, which commenced in 2004, will now formally end, with Ablynx having the rights to any assets discovered under the agreement.‹