SOURCE: Ablynx

October 12, 2009 12:08 ET

ABLYNX AND DOMANTIS SETTLE THEIR DISPUTE AND STOP THE ARBITRATION PROCESS

GHENT, BELGIUM--(Marketwire - October 12, 2009) -


GHENT, Belgium, 12 October, 2009 - Ablynx [Euronext Brussels: ABLX], today announced that it has reached a settlement with Domantis (part of the GlaxoSmithKline group of companies) concerning an alleged dispute relating to a settlement agreement which Ablynx and Domantis entered into in 2005.

Under the new agreement Ablynx has received a license to the European Winter II patent which lay at the heart of the dispute and in return will pay Domantis low single-digit royalties on the first five Nanobody® products which are commercialised.

Dr Edwin Moses, CEO and Chairman of Ablynx, commented: "We are very pleased to have settled with Domantis so that we can focus on our key goal of developing Nanobody® products and driving them through the clinic. We believe our investors want us, where possible, to put our resources into R&D productivity rather than litigation. The fact that there are two Nanobodies® in Phase II trials, and by the end of 2009 there will be a total of four in the clinic, is a testimony to the power and promise of our technology."

Attachments: Complete version of the press release in English: http://hugin.info/137912/R/1347031/323743.pdf

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.

Contact Information

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    Ablynx:
    Dr Edwin Moses
    Chairman and CEO
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    Eva-Lotta Allan
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    +44 (0)7990 570 900
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