SOURCE: Ablynx

February 25, 2010 12:29 ET

ABLYNX ANNOUNCES 2009 FULL YEAR RESULTS

GHENT, BELGIUM--(Marketwire - February 25, 2010) - Ablynx [Euronext Brussels: ABLX] announced today its consolidated results for 2009, which have been prepared in accordance with IFRS as adopted by the European Union.

2009 Highlights

* EUR92.3 million in cash, cash equivalents and available-for-sale financial assets and other short term investments at year end

* EUR21.3 million net cash burn for the year

* 77% increase in revenues to EUR29.7 million (2008: EUR16.8 million)

* Initiated a Phase II study in September for its vWF targeting anti-thrombotic, ALX-0081, in a head-to-head comparison with ReoPro® as adjunctive treatment to standard anti-thrombotic therapy in "high risk" patients undergoing a percutaneous coronary intervention (PCI) procedure. Showed proof-of-concept by biomarker for ALX-0081 in December with data from the open label extension of its Phase Ib study

* Reported positive Phase I results for its anti-vWF Nanobody product, ALX-0681, which is being developed in patients with thrombotic thrombocytopenic purpura (TTP)

* Received Orphan Drug Designation from both the FDA and EMEA for its vWF Nanobody programme for the treatment of TTP * Pfizer successfully completed Phase I trials and initiated Phase II trials for its anti-TNFa Nanobody product in rheumatoid arthritis (RA) patients in September, which triggered a $4 million milestone payment to Ablynx

* Initiated a Phase I study in December for its RANKL targeting Nanobody, ALX-0141, in healthy postmenopausal women. The drug is being developed initially for the treatment of osteoporosis

* Announced a new pre-clinical development candidate, ALX-0061, a Nanobody product targeting IL-6R, for the treatment of autoimmune and inflammatory diseases

* Successfully generated functional Nanobodies against GPCRs

* Awarded a total of EUR1.1 million in grants to further develop new routes of administration for Nanobodies

* Announced important developments in the administration of Nanobody products via pulmonary and needle-free routes together with more data on its novel proprietary half-life extension technology called NExpedite®

* Received EUR9 million in milestone payments from Boehringer Ingelheim, as part of its strategic alliance

For more information, please contact:

College Hill Life Sciences - for UK/International media enquiries:
Sue Charles, Justine Lamond, Dr John McIntyre
t:   +44 (0)20 7866 7857
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

[HUG#1388791]

Complete version of the press release: http://hugin.info/137912/R/1388791/346990.pdf

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