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