GHENT, BELGIUM -- 08/28/08 --
Ablynx [Euronext Brussels: ABLX], a
pioneer in the discovery and development of Nanobodies®, a novel
class of antibody-derived therapeutic proteins, announced today its
results for the six month period ending 30 June, 2008, which have
been prepared in accordance with the IAS 34 'Interim Financial
Reporting' as adopted by the European Union.
H1 2008 Highlights
* Initiated a Phase Ib study in patients for ALX-0081 in May
* Initiated 5 new Nanobody® programmes during the first half of
2008 and on track to reach the target of 6-8 new programmes for
2008
* 36% increase in revenue to EUR 6.2 million for the six month period
(2007: EUR 4.5 million)
* EUR 0.7 million grant was approved in April by the Flemish
government to explore "Novel uses of Nanobodies®"
* Received milestone payment from Novartis in February
* Increased staff by 25 people, to reach a total of 173 at 30 June
* Developed plans for future facility expansion
* EUR 115.3 million in cash at 30 June, 2008
Boehringer Ingelheim also confirmed on 21 August a one year extension
of the research term for the Alzheimer disease collaboration.
Prospects for 2008
The Company aims to complete its multi-dose Phase Ib patient study of
ALX-0081 during the fourth quarter. It also expects to initiate the
preparations for Phase II development by engaging with regulatory
authorities before the end of the year. As part of Ablynx's strategy
to exploit the advantages of Nanobodies® and to access additional
potential markets, it has also started the development of ALX-0681, a
subcutaneous delivery form of ALX-0081, and is on track to file an
IND equivalent for ALX-0681 by the end of 2008.
70% of Ablynx's R&D resources are dedicated to the development of its
own internal pipeline. During the second half of 2008, Ablynx will
advance other Nanobodies® into pre-clinical studies. The Company will
also achieve its target of starting 6-8 new internal discovery
programmes before the end of the year. In addition, it will continue
to develop its own technology platform and exploit the key Nanobody®
advantages in areas such as alternative routes of administration and
generating Nanobodies® against target classes which are typically
difficult for monoclonal antibodies.
Complete version of the half year results 2008 in English
(http://hugin.info/137912/R/1246793/269708.pdf)
Copyright © Hugin AS 2008. All rights reserved.
For more information, please contact:
College Hill Life Sciences - for UK/International media enquiries:
Sue Charles, Justine Lamond, John McIntyre
t: +44 (0)20 7866 7857
f: +44 (0)20 7866 7900
e: Email 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
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: Email Contact
