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4-Traders Homepage  >  Equities  >  Euronext Bruxelles  >  Ablynx    ABLX   BE0003877942

ABLYNX (ABLX)

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ABLYNX (D) : ABLYNX RECEIVES MILESTONE PAYMENT AS COLLABORATOR RECEIVES IND APPROVAL FOR A NANOBODY IN ONCOLOGY

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04/02/2012 | 08:08am CEST
ABLYNX RECEIVES MILESTONE PAYMENT AS COLLABORATOR RECEIVES IND APPROVAL FOR A NANOBODY IN ONCOLOGY GHENT, Belgium, 2 April 2012 - Ablynx [Euronext Brussels: ABLX] today announced that it has received a €400,000 milestone payment from its collaboration with Novartis. The payment was triggered by the approval of an Investigational New Drug (IND) application from the U.S. Food and Drug Administration for the Phase 1 clinical trial for a Nanobody® licensed to Novartis. This is the first development candidate emerging from the licensing agreement between Ablynx and Novartis.

Ablynx and Novartis entered into a commercial licensing agreement in July 2010, under which Novartis obtained licenses to develop and commercialise Nanobodies against two targets (including this one for which an IND has been approved), which originated from the research agreement between the parties, entered into in 2005. Since July 2010, Novartis has full responsibility for the continued progress of both programmes and Ablynx is eligible to receive development-based milestone payments and royalties on sales following commercialisation of the products.
Dr Edwin Moses, CEO and Chairman of Ablynx, commented:
"We are excited that Novartis has obtained IND approval and that they will bring this first Nanobody into clinical development in an oncology setting. This development candidate demonstrates the power of the Nanobody platform in addressing complex target classes that are challenging to address with conventional antibodies."

About Investigational New Drug Application (IND)

An IND is an application that a drug sponsor must submit to U.S. Food and Drug Administration (FDA) before beginning tests of a new drug on humans. The IND package contains the plan for the study and is supposed to give a complete picture of the drug, including its structural formula, animal test results and manufacturing information. The equivalent in Europe is called an Investigational Medicinal Product Dossier (IMPD).

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.

distributed by

This press release was issued by Ablynx NV and was initially posted at http://www.ablynx.com/newsroom/openpdf.php?id=aHR0cDovL2N3cy5odWdpbm9ubGluZS5jb20vQS8xMzc5MTIvUFIvMj AxMjA0LzE1OTg5MDgueG1s . It was distributed, unedited and unaltered, by noodls on 2012-04-02 07:22:44 AM. The issuer is solely responsible for the accuracy of the information contained therein.

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Financials (€)
Sales 2016 100,0 M
EBIT 2016 -8,32 M
Net income 2016 -4,75 M
Debt 2016 0,36 M
Yield 2016 -
P/E ratio 2016 -
P/E ratio 2017
EV / Sales 2016 7,56x
EV / Sales 2017 16,7x
Capitalization 755 M
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Number of Analysts 5
Average target price 18,0 €
Spread / Average Target 45%
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NameTitle
Edwin Moses Chief Executive Officer & Director
Peter John Fellner Chairman
Kim Simonsen Chief Operations Officer
Wim Ottevaere Chief Financial Officer
Antonin Rollet de Fougerolles Chief Scientific Officer
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