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ABLYNX STRENGTHENS MANAGEMENT TEAM - EVA-LOTTA ALLAN JOINS AS CHIEF BUSINESS OFFICER GHENT, Belgium, 1st June 2006 – Ablynx, the pioneer in the discovery and development of Nanobodies™, a novel class of antibody-derived therapeutic proteins, has announced the appointment of Eva-Lotta Allan as Chief Business Officer (CBO). Eva-Lotta brings more than 12 years experience in business development, and joins Ablynx from Vertex Pharmaceuticals Incorporated [Nasdaq: VRTX] where she was Senior Director of Business Development and Site Operations (Vertex Europe). In this role she was instrumental in leading cross-functional deal teams, identifying, structuring, negotiating and closing deals, and key contributor to the Vertex business strategies. She recently negotiated and finalized a product licensing agreement with GlaxoSmithKline for one of Vertex’s development candidates for a total value greater than $400 Million excluding royalties. Prior to joining Vertex she held senior business development and marketing roles during ten years at Oxford Asymmetry International plc and Oxford GlycoSciences plc. Eva-Lotta received her degree in microbiology from the University of Stockholm and also holds a Masters certificate in marketing from the Institute for Higher Marketing Business School in Stockholm. Commenting on her appointment, Ms Allan said: “I have been extremely impressed with Ablynx’s unique and high quality science and with the impressive partnerships already established with premier pharmaceutical companies. I am delighted to be joining Ablynx at this exciting time as the company is driving its own portfolio forward while establishing additional strategic collaborations and licensing transactions that will deliver on the commercial promise that Nanobodies™ offer as a novel class of therapeutics.” Nanobodies™ combine the beneficial features of conventional antibodies, with desirable properties of small-molecule drugs. To date, Ablynx has signed collaborative drug discovery deals with Novartis, Centocor (J&J), Kirin Brewery and Procter & Gamble Pharmaceuticals. Dr Edwin Moses welcomed Eva-Lotta to the team, adding: “Eva-Lotta brings the experience, strategic vision and commitment to help drive Ablynx forward as it develops into a leading biopharmaceutical company. Her appointment adds to the impressive international management team we have built at Ablynx in recent months. Having worked very successfully together at Oxford Asymmetry, I have every confidence that she will make a significant contribution to driving value creation.” Dr Moses stepped up his role from Non-executive Chairman to Chairman and CEO in March 2006. In 2005 the Company appointed Dr Hennie Hoogenboom, a recognized leader in the field of antibody drug discovery, as CSO and in May 2006 Ablynx announced that Wim Ottevaere would be joining the Company in August 2006, from Innogenetics, as Ablynx’ first CFO. – ends – About Ablynx Ablynx is a biopharmaceutical company engaged in 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. Ablynx is developing a portfolio of Nanobody™ based therapeutic programs in a number of major disease areas, including inflammation, thrombosis, oncology and Alzheimer’s disease. Already Ablynx has generated Nanobodies™ against more than twenty different disease targets. The company and its collaborators have obtained positive in vivo efficacy data from animal studies in five major therapeutic programs in four disease areas. Importantly, Ablynx has shown the absence of any detectable immunogenicity for its Nanobody™ development candidates in advanced primate studies. Today, three of these programs are in advanced preclinical development, and Ablynx expects to have progressed two of those into clinical trials by 2007. Ablynx has ongoing research collaborations and significant, multi-target partnerships with several major pharmaceutical companies, including Novartis, Centocor (J&J), Kirin Breweries and P&G Pharma. Ablynx is building a diverse and broad portfolio of therapeutic Nanobodies™ based on these collaborative deals as well as on its own internal discovery pipeline. Nanobody™ based therapeutics represent a major commercial opportunity as they combine the beneficial features of conventional antibodies, with desirable properties of small-molecule drugs. Because they are derived from naturally-occurring heavy-chain antibodies, Nanobodies™ have unparalleled stability and can be administered in a variety of ways (injected, orally, in sprays or creams), thus overcoming the delivery issues associated with full-sized antibodies, that can only be delivered by injection. In addition, because of their unique structure they can also address therapeutic opportunities that are beyond the reach of conventional antibodies or their fragments, for example targeting epitopes such as receptor clefts, enzyme active sites and viral canyon sites. Nanobodies™ are manufactured in micro-organisms which also presents a significant cost advantage in comparison to production methods for conventional antibodies. Ablynx holds the dominant patent position in the field of Nanobodies™. It has exclusive and worldwide rights to more than forty families of granted patents and pending patent applications, including the patents covering the basic structure, composition, preparation and uses of Nanobodies™ (the ‘Hamers patents’) which have been granted in major territories including the US, Europe and Japan. All products, including therapeutics, that contain Nanobodies™ are covered by these patents. Headquartered in Ghent, Belgium, Ablynx has raised over €33 million (over US$40 million) from a strong investor consortium including Abingworth Management (UK), Alta Partners (USA), Biotech Fund Flanders (Belgium), Gilde Investment Management (The Netherlands), GIMV (Belgium) and Sofinnova Partners (France). For further information please visit the website at www.ablynx.com
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