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Significant progress in key pre-clinical and clinical development programmes
Conference call and webcast today at 4pm CET/10am ET
GHENT, Belgium, 23 February 2017 - Ablynx [Euronext Brussels: ABLX; OTC: ABYLY] today announced its financial results for the year ended 31st December 2016, which have been prepared in accordance with IFRS as adopted by the European Union, business highlights year-to-date and the outlook for the remainder of the year.
"We have made significant progress across a number of our key clinical programmes during 2016 and continue to advance our growing pipeline of products which now has more than 45 proprietary and partnered programmes" said Dr Edwin Moses, CEO of Ablynx. "We are approaching a key inflection point with our filing for regulatory approval of caplacizumab in Europe, results from our Phase III trial expected in H2 2017 and commercial preparations well underway for the first launch of the product expected in 2018. We remain focused on delivering sustainable value to all our stakeholders and look forward to an exciting year with multiple catalysts across our extensive pipeline."
|(€ million)||FY 2016||FY 2015||Variance|
|Total revenue and grant income||85.2||77.5||10%|
|Net financial result||27.5||(37.6)||> 100%|
|Net cash flow||(72.2) (1)||(67.2) (3)||(7%)|
|Cash* at 31 December||235.4 (2)||236.2 (2)||-|
(1) excluding €71.4 million net proceeds from the private placement (which raised €74.2 million, announced on 1 June 2016)
(2) including €1.6 million in restricted cash
(3) excluding €97.2 million net proceeds from the convertible bonds (which raised €100 million, announced on 20 May 2015)
* defined as liquidity position in the cash flow statement
Ablynx is a biopharmaceutical company engaged in the development of Nanobodies®, proprietary therapeutic proteins based on single-domain antibody fragments, which combine the advantages of conventional antibody drugs with some of the features of small-molecule drugs. Ablynx is dedicated to creating new medicines which will make a real difference to society. Today, the Company has approximately 45 proprietary and partnered programmes in development in various therapeutic areas including inflammation, haematology, immuno-oncology, oncology and respiratory disease. The Company has collaborations with multiple pharmaceutical companies including AbbVie, Boehringer Ingelheim, Eddingpharm, Merck & Co., Inc., Merck KGaA, Novartis, Novo Nordisk and Taisho Pharmaceuticals. The Company is headquartered in Ghent, Belgium. More information can be found on www.ablynx.com.
For more information, please contact
Dr Edwin Moses
t: +32 (0)9 262 00 07
m: +32 (0)473 39 50 68
Director IR & Corporate Communications
t: +32 (0)9 262 00 82
m: +32 (0)479 49 06 03
Follow us on Twitter @AblynxABLX
Ablynx media relations: FTI Consulting:
Julia Phillips, Brett Pollard, Mo Noonan, Matthew Moss
t: +44 20 3727 1000
 Net cash burn is the difference between the cash position of the current and the previous year minus the proceeds (net of issue costs) from the issuance of ordinary shares and/or the issue of convertible bonds
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