SOURCE: Ablynx

September 25, 2007 02:47 ET

ABLYNX IS AWARDED EUR 1.9 MILLION GRANT TO EXPLORE NEW THERAPEUTIC USES OF NANOBODIES®

GHENT, BELGIUM--(Marketwire - September 25, 2007) - Ablynx the biopharmaceutical company focused on the discovery and development of Nanobodies®, today announced that it has been awarded a grant worth EUR 1.855M by the Institute for the Promotion of Innovation by Science and Technology in Flanders (IWT).

The grant allows Ablynx to accelerate the speed of exploring a number of new therapeutic Nanobody® applications, in which their unique properties would be exploited. These properties include their exceptional stability allowing pulmonary delivery, small size and exceptional format flexibility and ability to access targets, so far inaccessible to conventional antibodies, with the potential to provide a highly efficient virus neutralization capability. Importantly, this grant will enable Ablynx to expand its dominant intellectual property portfolio.

Research under the grant will be conducted in collaboration with leading research groups, including teams at Utrecht University, the Netherlands, led by Professor Verrips, and with a wide network of academic collaborators in Belgium (VIB, VUB and KUL), Norway, Germany, the UK, Spain and France.

"We are extremely pleased to tap into world class biological and disease expertise to exploit new applications for Nanobodies®" said Dr Hans de Haard, Senior Director Discovery Research at Ablynx. "This research will build on the data from a concurrent programme in which Nanobodies® have been produced against a wide variety of targets grouped into target families according to structural homology or biological links. The target families addressed include extracellular targets such as transmembrane proteins and receptors, enzymes, serum proteins and soluble signaling factors."

Dr Hennie Hoogenboom, Chief Scientific Officer at Ablynx commented "IWT's continued support of Ablynx's Nanobody® technology platform is very encouraging. We believe the grant will allow us to explore a number of innovative therapeutic Nanobody® applications and will help to maintain the groundbreaking progress we are making, accelerating the exploitation of Nanobodies® across multiple target classes, whilst continuing to ensure our IP is protected from ever increasing competition."

Contacts at Northbank Communications:
Sue Charles, Annabel Entress, Justine Lamond, Tony Stephenson
t: +44 (0)20 7268 3002
m: +44 (0)7968 726 585 (SC)
e: ablynx@northbankcommunications.com


Contacts at 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

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