ABLYNX : TO RAISE CAPITAL VIA A PRIVATE PLACEMENT OF NEW SHARES

REGULATED INFORMATION

10% of its current number of listed and outstanding shares (i.e. a maximum of 4,908,332 new

shares). The Board of Directors has decided to cancel the preferential subscription rights of the existing shareholders in the framework of this transaction with respect to the issuance of the new shares, which will take place within the limits of the authorised share capital as set out in the Company's articles of association and in accordance with Article 604 of the Belgian Company Code.

The funds will be used by Ablynx:

 to allow flexibility in the choices regarding further development of the Company's

currently fully-owned clinical assets caplacizumab (anti-vWF) and ALX-0171 (anti-RSV);

 to continue to build momentum with Nanobodies® targeted to immune check-point inhibitors and accelerate the development of such assets both in wholly-owned programmes and with partners;

 to initiate, continue to advance, and/or accelerate the pre-clinical and clinical development of wholly- and co-owned programmes to further expand the Company's diverse portfolio of programme assets; and

 for general corporate purposes.

The new shares will be placed through an accelerated book build to begin on 30 June 2014 at 9:00 am CET. Ablynx has asked the Financial Services and Markets Authority (FSMA) to suspend its shares from trading on Euronext Brussels. Trading of the shares is expected to resume on 1 July 2014, subject to the publication of the results of the placement.

Ablynx will agree with the Joint Bookrunners for the placement to a 180-day lock-up period on future share issuances, subject to (i) completion of the accelerated book build, (ii) waiver by the Joint Bookrunners, and (iii) customary exceptions, including for shares issued in connection with strategic licensing or collaboration transactions and in the context of the grant or exercise of warrants for employees, consultants or Directors. Certain members of the Company's management have agreed with the Joint Bookrunners for the placement to a 45-day lock-up period on future share sales, subject to (i) completion of the accelerated book build and (ii) waiver by the Joint Bookrunners.

Ablynx will announce the results of the placement as soon as possible after the closing of the book building.

Jefferies International Limited, KBC Securities NV and Kempen & Co N.V. are acting as Joint

Bookrunners for the placement.

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REGULATED INFORMATION

Ablynxis 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 human diseases, including inflammation, haematology, oncology and pulmonary disease. Today, the Company has more than 30 programmes in the pipelineand seven Nanobodies in clinical development. Ablynx has on-going research collaborations and significant partnerships with major pharmaceutical companies including AbbVie, Boehringer Ingelheim, Merck & Co, Merck Serono and Novartis. The Company is headquartered in Ghent, Belgium. More information can be found on www.ablynx.com.

Dr Edwin Moses

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

Marieke Vermeersch

Associate Director Investor Relations t: +32 (0)9 262 00 82

m: +32 (0)479 49 06 03

e: marieke.vermeersch@ablynx.com

@AblynxABLX

Mary-Jane Elliott, Amber Bielecka, Lindsey Neville t: +44 203 709 5700

e: ablynx@consilium-comms.com

Certain statements, beliefs and opinions in this press release are forward-looking, which reflect the Company or, as appropriate, the Company directors' current expectations and projections about future events. By their nature, forward-looking statements involve a number of risks, uncertainties and assumptions that could cause actual results or events to differ materially from those expressed or implied by the forward-looking statements. These risks, uncertainties and assumptions could adversely affect the outcome and financial effects of the plans and events described herein. A multitude of factors including, but not limited to, changes in demand, competition and technology, can cause actual events, performance or results to differ significantly from any anticipated development. Forward looking statements contained in this press release regarding past trends or activities should not be taken as a representation that such trends or activities will continue in the future. As a result, the Company expressly disclaims any obligation or undertaking to release any update or revisions to any forward-looking statements in this press release as a result of any change in expectations or any change in events, conditions, assumptions or circumstances on which these forward-looking statements are based. Neither the Company nor its advisers or representatives nor any of its parent or subsidiary undertakings or any such person's officers or employees guarantees that the assumptions underlying such forward -looking statements are free from errors nor does either accept any responsibility for the future accuracy of the forward-looking statements contained in this press release or the actual occurrence of the forecasted developments. You should not place undue reliance on forward-looking statements, which speak only as of the date of this press release.

The distribution of this press release in certain jurisdictions may be restricted by law. No action has been taken by Ablynx, Jefferies International Limited, KBC Securities NV and Kempen & Co N.V. or any of their respective affiliates that would permit a public offer of the new shares in any jurisdiction where action for that purpose is

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REGULATED INFORMATION

required. This press release is for information purposes only and does not constitute an offer to purchase or the solicitation of an offer to buy any new shares in any jurisdiction in which such an offer or solicitation is unlawful. Persons into whose possession this press release comes are required to inform themselves about and to observe any such restrictions. Ablynx disclaims all liability for non-compliance with any legal requirement by third parties.
This press release is not for publication or distribution, directly or indirectly, in the Un ited States, Canada, Australia and Japan. This press release does not constitute or form part of any offer or solicitation to purchase or subscribe for, nor does it constitute an offer to sell, or the solicitation of an offer to buy, and there shall not be any sale of securities, in any jurisdiction in which such offer, solicitation or sale would be unlawful prior to its registration or qualification under the laws of such jurisdiction. The new shares mentioned herein have not been, and will not be, registered under the United States Securities Act of 1933 (the "Securities Act"). The new shares may not be offered or sold in the United States except pursuant to an effective registration statement under, or an exemption from the registration requirements of, the Securities Act. There will be no public offer of securities in the United States.
This press release is not an offer to sell nor a solicitation to buy the new shares nor a prospectus for the purposes of Directive 2003/71/EC (such Directive, together with any applicable implementing measures in the relevant member state of the European Economic Area and as amended, including by Directive 2010/73/EU, to the extent implemented in the relevant member state, the "Prospectus Directive"). There will be no offer to the public of the new shares in any member state of the European Economic Area and no prospectus or other offering document has been or will be prepared in connection with the sale of the new shares by Ablynx. In the European Economic Area the new shares will only be offered and sold to "qualified investors" as defined in the Prospectus Directive or in other circumstances falling within Article 3(2) of the Prospectus Directive.
This press release does not constitute an offer of the new shares to the public in the United Kingdom, nor is it intended to be an inducement to engage in investment activity for the purpose of section 21 of the Financial Services and Markets Act 2000 (as amended) of the United Kingdom. Consequently, this press release is only directed at (i) persons who are outside the United Kingdom; (ii) investment professionals within Article 19(5) of the Financial Services and Markets Act 2000 (Financial Promotions) Order 2005 as amended (the "Order"); (iii) persons falling within Article 49(2)(a)-(d) of the Order; or (iv) other persons to whom it may be lawfully be communicated, together being referred to as "relevant persons". The new shares are only available to, and any invitation, offer or agreement to purchase or otherwise acquire the new shares will be engaged in only with relevant persons. Any person who is not a relevant person should not act or rely on this document or any of its contents.
This press release does not constitute or form part of, and should not be construed as an offer or the solicitation of an offer to subscribe for or purchase the new shares, and nothing contained therein shall form the basis of or be relied on in connection with any contract or commitment whatsoever, nor does it constitute a recommendation regarding the new shares. An investment decision to buy any of the new shares in the private placement must be made solely on the basis of publicly available information. Such information is not the responsibility of, and has not been independently verified by any of, Jefferies International Limited, KBC Securities NV, Kempen & Co N.V. or their respective affiliates.
Jefferies International Limited, KBC Securities NV and Kempen & Co N.V. are acting only for Ablynx in connection with the private placement and no one else, and will not be responsible to anyone other than Ablynx for providing the protections offered to clients of Jefferies International Limited, KBC Securities NV or Kempen & Co N.V., nor for providing advice in relation to the offering of new shares mentioned herein.

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