Ablynx
Brussels : ABLX

February 22, 2012 12:14 ET

ABLYNX ANNOUNCES 2011 FULL YEAR RESULTS

GHENT, BELGIUM--(Marketwire - Feb 22, 2012) -


REGULATED INFORMATION

Strong year of progress at Ablynx as first Nanobody® reaches clinical proof-of- concept

GHENT, Belgium, 22(nd) February 2012 - Ablynx (Euronext Brussels: ABLX), the Belgian-based biopharmaceutical company focused on the discovery and development of Nanobodies for the treatment of serious life-threatening diseases, today announced the Company's consolidated results for the year ending 31 December 2011, which have been prepared in accordance with IFRS as adopted by the European Union.

Operating Highlights
  * First clinical proof-of-concept for a Nanobody
  * Four Phase II and five Phase I trials for Nanobodies advanced or
    completed
  * Third collaborative deal with Merck Serono, including a EUR20
    million up-front payment

Financial Highlights
  * Revenues of EUR21.9 million
  * Net loss for the period of EUR43.9 million, reflecting increased
    R&D expenditure on higher number of development candidates
  * Net cash burn controlled at EUR32 million
  * Strong financial position with EUR83.8 million in cash at period
    end including cash, cash equivalents, restricted cash and
    short-term investments

Commenting on the 2011 results, Dr Edwin Moses, Chairman and CEO of Ablynx, said: "Our strategy is to create a broad range of Nanobody-based, value- creating opportunities, developed initially both by ourselves and with partners. During 2011, Ablynx made substantial progress on many fronts, with the first clinical proof-of-concept for a Nanobody being achieved in a Phase II trial undertaken with Pfizer, the signing of a major new partnership and the delivery of our first Nanobody to patients using the pulmonary route. All are major achievements and have put our unique Nanobody-based technology platform firmly on the pharmaceutical map."

"We anticipate further strong progress during the coming year. We expect more Nanobodies to enter the clinic for the first time and to add further collaborations with pharmaceutical companies to our partnership list, helping us to widen the number of opportunities to create value for shareholders and at the same time manage our cash and diminish risk. We look forward to reporting news of our progress during 2012."

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 and life-threatening human diseases, including inflammation, haematology, oncology and pulmonary disease. Today, the Company has over 25 programmes in the pipeline and seven Nanobodies at clinical development stage. Ablynx has ongoing research collaborations and significant partnerships with major pharmaceutical companies, including Boehringer Ingelheim, Merck Serono and Novartis. The Company is headquartered in Ghent, Belgium. More information can be found on www.ablynx.com.

Webcast and presentation

Dr Edwin Moses, CEO and Chairman of Ablynx, will host a conference call webcast during which the full year results for 2011 will be presented, followed by a Q&A session. This event will be held on Thursday, 23 February 2012 at 4.00 p.m. CET. The conference call will be webcast live and may be accessed on the home page of the Ablynx website at www.ablynx.com. Shortly thereafter, a replay of the webcast will be available on the Company's website.

Complete version of the press release: http://hugin.info/137912/R/1588320/498413.pdf

This announcement is distributed by Thomson Reuters on behalf of Thomson Reuters clients. The owner of this announcement warrants that:

(i) the releases contained herein are protected by copyright and other applicable laws; and

(ii) they are solely responsible for the content, accuracy and originality of the information contained therein.

Source: Ablynx via Thomson Reuters ONE

[HUG#1588320]

Contact Information

  • 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: Email Contact

    Marieke Vermeersch
    Investor Relations Manager
    t: +32 (0)9 262 00 82
    m: +32 (0)479 49 06 03
    e: Email Contact

    M:Communications:
    Mary-Jane Elliott
    Amber Bielecka
    Claire Dickinson
    t: +44 207 154 2333
    e: Email Contact