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Miles
Km80.5

   

Ablynx Receives EUR1.2 Million Grant To Further Advance Its Anti-Il-6r Programme, Alx-0061


2/19/2010 10:44:47 AM

GHENT, BELGIUM--(Marketwire - February 19, 2010) -



GHENT, Belgium, 19 February 2010- Ablynx [Euronext Brussels: ABLX], announced today that it has been awarded a grant worth EUR1.2 million by the Flemish agency for Innovation by Science and Technology (IWT).

The grant supports Ablynx in accelerating the development of its Nanobody-based programme, ALX-0061, into clinical development for the treatment of autoimmune and inflammatory diseases.

ALX-0061 binds to the IL-6 receptor (IL-6R). It has a high potency and demonstrated a favourable pharmacodynamic (PD), pharmacokinetic (PK) and safety profile in pre-clinical testing compared with the benchmark molecule. ALX-0061 has no Fc-mediated effector function which may translate into an improved safety profile. Due to its monovalent binding to the target, it also does not have the potential to crosslink the IL-6R target which may have some benefits compared with monoclonal antibody approaches.

Edwin Moses, CEO and Chairman of Ablynx, said:

"ALX-0061 is a key programme in the Ablynx portfolio and Ablynx is on track to file an IND equivalent in Europe before the end of this year. We are delighted with IWT's continued support of the Nanobody platform and very pleased we will also receive support for our preclinical and clinical activities related to ALX-0061. This grant is a valuable contribution to the ALX-0061 programme, which we are advancing towards clinical development. There are already four Nanobodies in the clinic, with our lead programme, ALX-0081, a novel anti-thrombotic, in Phase II since September 2009."

-ends-



[HUG#1386741]



Complete version of the press release: http://hugin.info/137912/R/1386741/345289.pdf




For more information, please contact:

College Hill Life Sciences – for UK/International media enquiries:

Sue Charles, Justine Lamond, Holly Griffiths
t: +44 (0)20 7457 2020
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

Wim Ottevaere
Chief Financial Officer
t: +32 (0)9 262 00 11
e: wim.ottevaere@ablynx.com


Read at BioSpace.com

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