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ABLYNX ANNOUNCES FULL YEAR RESULTS FOR 2007
GHENT, Belgium, 28 February 2008 - Ablynx [Euronext
Brussels: ABLX], a pioneer in the discovery and development of Nanobodies®,
a novel class of antibody-derived therapeutic proteins, announced today its
results for 2007. These are the Company's first set of results since its
successful IPO and listing on Euronext Brussels in November 2007.
2007 Highlights
* Raised a total of ?85.2 million from its IPO on Euronext Brussels
* Euros 126.5 million in cash at year end
* 150% increase in revenues to Euros 9.9 million (2006: Euros 4.0 million)
* ALX-0081, an anti-thrombotic, entered Phase I clinical trials in April and
positive final results were reported in December
* A research and licensing deal worth up to Euros 1.3 billion was signed
with Boehringer Ingelheim in September 2007
* A collaborative agreement with Boehringer Ingelheim in the area of
Alzheimer's disease worth up to Euros 206 million was announced in January
2007
* Key Nanobody® related claims of the Hamers-1 patent were maintained in
opposition appeal proceedings in December
* Wyeth confirmed it was extending the research term with Ablynx as part of
its $212 million TNF-alpha licensing agreement in December
* The drug discovery and development alliance with Novartis was extended in
December for another year
* Euros 1.9 million grant was approved by the Flemish government in
September to develop new therapeutic applications of Nanobodies®
Prospects for 2008
Based on the positive Phase I data for ALX-0081, Ablynx intends to submit a
regulatory application to carry out its multiple-dose study directly in the
target patient population rather than in healthy volunteers. The Company
aims to start Phase II development of ALX-0081 by the end of 2008. As part
of Ablynx's strategy to exploit the Nanobody® advantages and to access
larger potential markets, it has initiated a programme to develop a
subcutaneous delivery form of ALX-0081 and plans to file an IND equivalent
for this product by the end of 2008.
During 2008, Ablynx will further develop its own product pipeline by
advancing other Nanobodies® into pre-clinical studies alone or with
partners. The Company intends to initiate 6-8 new research programmes during
the year as well as further developing its own technology platform and
exploiting the key Nanobody® advantages in areas such as alternative routes
of administration.
Commenting on the 2007 results and the very significant progress Ablynx made
last year, Dr Edwin Moses Chairman and CEO said:
"2007 was a pivotal year for Ablynx on all fronts: despite challenging
financial markets we completed the largest ever biotech IPO on Euronext
raising ?85.2 million; our first product, ALX-0081, entered and successfully
completed a Phase I study during the year - the first time that a Nanobody®
had been administered to humans in a clinical trial; and we announced
collaborative agreements with Boehringer Ingelheim potentially worth more
than ?1.5 billion, underlining the attractiveness of our Nanobody®
technology to the pharmaceutical industry and our strategy of entering into
alliances to maximise the value of our platform. We are focused in 2008 on
driving our lead programmes further along the clinical development path,
building our pipeline by progressing existing programmes and adding 6-8 new
ones. We are committed to delivering excellence within our existing
collaborations and to forging new commercial relationships which reflect our
growing maturity as a Company. To achieve these goals we will continue to
expand in terms of both physical space and headcount - we continue to aim to
attract the best national and international talent as part of our ambitious
plans for this exciting Company."
__________
Telephone and web conference details:
Dr Edwin Moses, CEO and Chairman of Ablynx, will host a press conference and
audio webcast call discussing the full year results followed by a Q&A
session on 28 February 2008 at 2.00 pm CET.
To participate in the call, please dial +32 (0)2 404 03 05 and enter PIN
code 55616070#, preferably 5 to 10 minutes prior to the call. The web
conference can be accessed on line through our website
http://www.ablynx.com under Investor
relations/Events and presentations.
An audio play back of the teleconference will be available during 30 days
after the event and can be accessed on +32 (0)2 401 89 89 using PIN code
229977#.
Certain statements, beliefs and opinions in this press release are
forward-looking, which reflect the Company's or, as appropriate, the
Company's directors' current expectations and projections about future
events. By their nature, forward-looking statements involve a number of
risks, uncertainties and assumptions that could cause actual results or
events to differ materially from those expressed or implied by the
forward-looking statements. These risks, uncertainties and assumptions could
adversely affect the outcome and financial effects of the plans and events
described herein. A multitude of factors including, but not limited to,
changes in demand, competition and technology, can cause actual events,
performance or results to differ significantly from any anticipated
development. Forward looking statements contained in this press release
regarding past trends or activities should not be taken as a representation
that such trends or activities will continue in the future. As a result, the
Company expressly disclaims any obligation or undertaking to release any
update or revisions to any forward-looking statements in this press release
as a result of any change in expectations or any change in events,
conditions assumptions or circumstances on which these forward-looking
statements are based. Neither the Company nor its advisers or
representatives nor any of its of their parent or subsidiary undertakings or
any such person's officers or employees guarantees that the assumptions
underlying such forward-looking statements are free from errors nor does
either accept any responsibility for the future accuracy of the
forward-looking statements contained in this press release or the actual
occurrence of the forecasted developments. You should not place undue
reliance on forward-looking statements, which speak only as of the date of
this press release.
-ENDS-
About Ablynx - http://www.ablynx.com
Founded in 2001 in Ghent, Belgium, Ablynx is a biopharmaceutical company
focused on the discovery and development of Nanobodies®, a novel class of
therapeutic proteins based on single-domain antibody fragments, for a range
of serious and life-threatening human diseases. The Company currently has
over 150 employees. Ablynx completed a successful IPO on Euronext Brussels [ABLX]
on 7 November 2007.
Ablynx is developing a portfolio of Nanobody®-based therapeutic programmes
in a number of major disease areas, including inflammation, thrombosis,
oncology and Alzheimer's disease. Nanobodies® have been generated against
more than 100 different disease targets. Efficacy data has been obtained in
16 in vivo models for Nanobodies® against a range of different targets.
Ablynx has an extensive patent position in the field of Nanobodies® for
healthcare applications. It has exclusive and worldwide rights to more than
50 families of granted patents and pending patent applications, including
the Hamers patents covering the basic structure, composition, preparation
and uses of Nanobodies®.
Ablynx has ongoing research collaborations and significant partnerships with
several major pharmaceutical companies, including Boehringer Ingelheim,
Wyeth Pharmaceuticals, Novartis, and P&G Pharma. Ablynx is building a
diverse and broad portfolio of therapeutic Nanobodies® through these
collaborations as well as through its own internal discovery programmes.
Ablynx announced final Phase I data from its first programme, an anti-thrombotic
(ALX-0081) in December 2007 and another programme, which is partnered, is in
advanced preclinical development.
Nanobody® is a registered trademark of Ablynx NV.
For more information, please contact:
College Hill Life Sciences - for UK/International media enquiries:
Sue Charles, Justine Lamond, Holly Griffiths
t: +44 (0)20 7866 7857
f: +44 (0)20 7866 7900
e: ablynx@collegehill.com
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: edwin.moses@ablynx.com
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
e: eva-lotta.allan@ablynx.com
Wim Ottevaere
Chief Financial Officer
t: +32 (0)9 262 00 11
e: wim.ottevaere@ablynx.com
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