Ablynx Announces 2009 Full Year Results
GHENT, BELGIUM--(Marketwire - February 25, 2010) - Ablynx [Euronext Brussels: ABLX] announced today its consolidated results for 2009, which have been prepared in accordance with IFRS as adopted by the European Union.
2009 Highlights
* EUR92.3 million in cash, cash equivalents and available-for-sale financial assets and other short term investments at year end
* EUR21.3 million net cash burn for the year
* 77% increase in revenues to EUR29.7 million (2008: EUR16.8 million)
* Initiated a Phase II study in September for its vWF targeting anti-thrombotic, ALX-0081, in a head-to-head comparison with ReoPro® as adjunctive treatment to standard anti-thrombotic therapy in "high risk" patients undergoing a percutaneous coronary intervention (PCI) procedure. Showed proof-of-concept by biomarker for ALX-0081 in December with data from the open label extension of its Phase Ib study
* Reported positive Phase I results for its anti-vWF Nanobody product, ALX-0681, which is being developed in patients with thrombotic thrombocytopenic purpura (TTP)
* Received Orphan Drug Designation from both the FDA and EMEA for its vWF Nanobody programme for the treatment of TTP * Pfizer successfully completed Phase I trials and initiated Phase II trials for its anti-TNFa Nanobody product in rheumatoid arthritis (RA) patients in September, which triggered a $4 million milestone payment to Ablynx
* Initiated a Phase I study in December for its RANKL targeting Nanobody, ALX-0141, in healthy postmenopausal women. The drug is being developed initially for the treatment of osteoporosis
* Announced a new pre-clinical development candidate, ALX-0061, a Nanobody product targeting IL-6R, for the treatment of autoimmune and inflammatory diseases
* Successfully generated functional Nanobodies against GPCRs
* Awarded a total of EUR1.1 million in grants to further develop new routes of administration for Nanobodies
* Announced important developments in the administration of Nanobody products via pulmonary and needle-free routes together with more data on its novel proprietary half-life extension technology called NExpedite®
* Received EUR9 million in milestone payments from Boehringer Ingelheim, as part of its strategic alliance
For more information, please contact: College Hill Life Sciences - for UK/International media enquiries: Sue Charles, Justine Lamond, Dr John McIntyre t: +44 (0)20 7866 7857 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
[HUG#1388791]
Complete version of the press release:
http://hugin.info/137912/R/1388791/346990.pdf