BioSpace.com

Biotech and Pharmaceutical
News & Jobs
Search the Site
 
   
Biotechnology and Pharmaceutical Channel Medical Device and Diagnostics Channel Clinical Research Channel BioSpace Collaborative    Job Seekers:  Register | Login          Employers:  Register | Login  

NEWSLETTERS
Free Newsletters
Archive
My Subscriptions

NEWS
News by Subject
News by Disease
News by Date
PLoS
Search News
Post Your News
JoVE

CAREER NETWORK
Job Seeker Login
Most Recent Jobs
Browse Biotech Jobs
Search Jobs
Post Resume
Career Fairs
Career Resources
For Employers

HOTBEDS
Regional News
US & Canada
  Biotech Bay
  Biotech Beach
  Genetown
  Pharm Country
  BioCapital
  BioMidwest
  Bio NC
  BioForest
  Southern Pharm
  BioCanada East
  US Device
Europe
Asia

DIVERSITY

INVESTOR
Market Summary
News
IPOs

PROFILES
Company Profiles

START UPS
Companies
Events

INTELLIGENCE
Research Store

INDUSTRY EVENTS
Biotech Events
Post an Event
RESOURCES
Real Estate
Business Opportunities

 News | News By Subject | News by Disease News By Date | Search News
eNewsletter Signup
Miles
Km80.5

   

Ablynx Successfully Raises $41 Million


2/28/2013 8:59:53 AM

GHENT, BELGIUM--(Marketwire - February 28, 2013) - Ablynx (EURONEXT BRUSSELS: ABLX), the biopharmaceutical company focused on the discovery and development of Nanobodies®, announces today that it has raised EUR 31.5 million through a private placement of new shares via an accelerated bookbuilding procedure announced on Wednesday 27 February 2013 after the market closed.

The private placement has allowed Ablynx to place 4,377,919 new shares with a range of domestic and international institutional investors and qualified institutional buyers in the United States at a price of EUR 7.2 per share, a 6.7% discount on the previous closing price. This represents 10.0% of the current number of outstanding shares and will bring the total number of shares after the issue to 48,157,116. The new shares will be admitted to trading on NYSE Euronext Brussels following their issuance, which is expected to take place on 5 March 2013.

The private placement was oversubscribed and certain pre-IPO shareholders and warrant holders sold 1,872,081 shares at the same price in conjunction with this transaction.

The funds will be used by Ablynx to:

  • maintain the momentum of ALX-0061 and review paths (e.g. co-development, fund additional clinical trials, retain (co-) promotion rights) which could allow the value of this asset to be maximized;
  • allow flexibility in the structure and timing of any potential deals to license clinical assets such as caplacizumab (anti-vWF) and ALX-0171 (anti-RSV);
  • initiate, advance and/or accelerate the pre-clinical development for wholly- and co-owned programmes with a broad range of risk-return profiles; and
  • for general corporate purposes.

KBC Securities NV acted as Global Coordinator. KBC Securities NV, Bryan, Garnier & Co. Limited and Nomura Code Securities Limited acted as Joint Bookrunners for the placement.

Dr Edwin Moses, Chairman and CEO of Ablynx commented:
"We are very pleased to announce the successful completion of the private placement which we believe reflects the strong progress made at Ablynx over the past year. The new funds will give us increased flexibility to invest in our Nanobody pipeline and in particular to build on the successful Phase II results of our rheumatoid arthritis product, ALX-0061, announced earlier this month. We are grateful to our existing shareholders for their continuing support and welcome our new investors. We believe that Ablynx is well placed to deliver significant value to shareholders in the coming years and we look forward to updating them on our progress during 2013."

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 the pipeline and five Nanobodies at clinical development stage. Ablynx has ongoing research collaborations and significant partnerships with major pharmaceutical companies including Boehringer Ingelheim, Merck Serono, Novartis and Merck & Co. The Company is headquartered in Ghent, Belgium. More information can be found on www.ablynx.com.

Press release in pdf format: http://hugin.info/137912/R/1682073/550116.pdf


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: edwin.moses@ablynx.com

Marieke Vermeersch
Associate Director Investor Relations
t: +32 (0)9 262 00 82
m: +32 (0)479 49 06 03
e: marieke.vermeersch@ablynx.com
Follow us on Twitter @AblynxABLX

M:Communications:
Mary-Jane Elliott
Amber Bielecka
Claire Dickinson
t: +44 207 920 2330
e: ablynx@mcomgroup.com



Read at BioSpace.com

Ablynx
 
 

ADD TO DEL.ICIO.US    ADD TO DIGG    ADD TO FURL    ADD TO STUMBLEUPON    ADD TO TECHNORATI FAVORITES