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Ablynx Announces Half-Year 2012 Results


8/22/2012 1:40:22 PM

GHENT, BELGIUM--(Marketwire - August 22, 2012) - REGULATED INFORMATION


GHENT, Belgium, 22 August 2012 - Ablynx (EURONEXT BRUSSELS: ABLX) today announced its results for the six-month period ending 30 June 2012, which have been prepared in accordance with the IAS 34 "Interim Financial Reporting" as adopted by the European Union. The highlights of the developments in its product pipeline and partnerships are also provided.

Click here to access the live audio webcast presentation tomorrow 23 August 2012 at 16h CET/10am EST; call number +32 (0)2 400 34 63.

Operating highlights

* Seven Nanobody-based products in clinical development across multiple disease areas

* Further success achieved under the Strategic Alliance with Boehringer Ingelheim with three new development candidates selected and FTE payments within the alliance extended for two years (EUR6.6M of which EUR5M received)

* Clinical Trials Application filed by Boehringer Ingelheim for its Alzheimer's Nanobody

* IND filed by Novartis for the Nanobody, TAS266, directed against Death Receptor 5 (DR5)

* Published compelling 48-week Phase II data for the anti-TNFa Nanobody ozoralizumab (ATN-103) in patients with RA

Financial highlights

* Revenues were EUR16.6 million, up 30% compared to 2011

* Net cash burn was EUR7.3 million, down by 69% compared to 2011

* Strong financial position with EUR76.5 million in cash, cash equivalents, restricted cash and short-term investments

Commenting on the half-year 2012 results, Dr Edwin Moses, Chairman and CEO of Ablynx, said:

"We are very pleased with the progress we have made during the first six months of the year, both operationally and financially. As promised, we carefully managed our net cash burn while still investing substantially in our proprietary and partnered programmes. We look forward to the remainder of the year during which we expect potential proof-of-concept data with the anti-IL-6R Nanobody, ALX-0061, in RA, Phase I data for the first inhaled Nanobody, ALX-0171, additional milestones from our partners and potential new deals."

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 human diseases, including inflammation, haematology, oncology and pulmonary disease. Today, the Company has approximately 25 programmes in its pipeline and seven Nanobodies are at the clinical development stage. Ablynx has ongoing research collaborations and significant partnerships with major pharmaceutical companies, including Boehringer Ingelheim, Merck Serono, and Novartis. The Company is headquartered in Ghent, Belgium. More information can be found on www.ablynx.com.

Complete version of the press release: http://hugin.info/137912/R/1635607/525415.pdf

This announcement is distributed by Thomson Reuters on behalf of Thomson Reuters clients. The owner of this announcement warrants that:

(i) the releases contained herein are protected by copyright and other applicable laws; and

(ii) they are solely responsible for the content, accuracy and originality of the information contained therein.

Source: Ablynx via Thomson Reuters ONE

[HUG#1635607]


For more information, please contact

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: Email Contact

Marieke Vermeersch
Investor Relations Manager
t: +32 (0)9 262 00 82
m: +32 (0)479 49 06 03
e: Email Contact
Follow us on Twitter @AblynxABLX

M:Communications:
Mary-Jane Elliott, Amber Bielecka, Claire Dickinson
t: +44 207 920 2330
e: Email Contact


Read at BioSpace.com


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