Dechert has advised Belgium-based Ablynx in a research collaboration and licensing agreement announced today with a subsidiary of Merck & Co (known as MSD outside the US and Canada). The collaboration and licensing agreement will focus on the discovery and development of predefined Nanobody candidates to be used in cancer immunotherapies. Ablynx will receive an upfront payment of €20 million and up to €10.7 million during the first three year research term. David Schulman, co-chair of Dechert's life sciences group, led the firm's team on the deal and worked with IP partners Daniel Becker and Thomas Rayski and associate Shirley Wang.