ABLYNX (D) : ABLYNX ANNOUNCES WARRANT EXERCISE

ABLYNX ANNOUNCES WARRANT EXERCISE GHENT, Belgium, 23 April 2012 - Ablynx [Euronext Brussels: ABLX] today announced that an additional 5,000 common shares have been issued by the Company in exchange for €7,000 as the result of the exercise of warrants by some employees and consultants of the Company.

As a result of this transaction, Ablynx now has 43,709,895 shares outstanding.

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.

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: edwin.moses@ablynx.com

Marieke Vermeersch Investor Relations Manager t: +32 (0)9 262 00 82

m: +32 (0)479 49 06 03

e: marieke.vermeersch@ablynx.com

M:Communications:

Mary-Jane Elliott, Amber Bielecka, Claire Dickinson t: +44 207 920 2330

e: ablynx@mcomgroup.com

Certain statements, beliefs and opinions in this press release are forward-looking, which reflect the Company's or, as appropriate, the Company's 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 or their 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.

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