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Ablynx Expands Its Musculoskeletal Portfolio By Taking P&G Pharmaceuticals, Inc. (PG)'s Programme In-House


1/20/2009 11:05:29 AM

GHENT, BELGIUM--(Marketwire - January 20, 2009) - Ablynx [Euronext Brussels: ABLX], a pioneer in the discovery and development of Nanobodies®, a novel class of antibody-derived therapeutic proteins, has expanded its musculoskeletal research portfolio by transferring in-house full ownership of a bone disorder R&D programme initiated under its collaboration with Procter & Gamble Pharmaceuticals.

This is Ablynx's second musculoskeletal programme and it complements ALX-0141, Ablynx's Nanobody® against Receptor Activator for Nuclear Factor kappa B Ligand (RANKL) which is in preclinical development.

Together, the two programmes target different mechanisms to treat bone disorders such as osteoporosis. Ablynx plans to accelerate this second bone disorder programme towards preclinical development, once the best lead candidate Nanobody® has been selected.

"We are delighted to have reached agreement with P&G Pharmaceuticals. It fits with our strategy to expand our in-house pipeline. Ablynx has the resources and expertise to accelerate the programme which we believe could offer an important new approach to osteoporosis therapy," said Dr Edwin Moses, Chairman and Chief Executive Officer of Ablynx.

Ablynx's research collaboration with Procter & Gamble Pharmaceuticals, which commenced in 2004, will now formally end, with Ablynx having the rights to any assets discovered under the agreement.

-ends-

About Ablynx [Euronext Brussels: ABLX] - 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 200 employees. Ablynx completed a successful IPO on Euronext Brussels [ABLX] on 7 November 2007.

For more information, please contact:

College Hill Life Sciences - for UK/International media enquiries:
Sue Charles, Justine Lamond, John McIntyre
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

This announcement was originally distributed by Hugin. The issuer is solely responsible for the content of this announcement.

Copyright © Hugin AS 2009. All rights reserved.




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