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

ABLYNX (ABLX)
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ABLYNX (D) : RECEIVES FURTHER MILESTONE PAYMENTS OF EUR3 MILLION AS PART OF ITS STRATEGIC ALLIANCE WITH BOEHRINGER INGELHEIM

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10/01/2010 | 07:05am CEST




  GHENT, Belgium, 1 October 2010 - Ablynx [Euronext Brussels: ABLX] today
announced that it will receive further milestone payments totalling EUR3 million
from Boehringer Ingelheim, triggered as part of its strategic alliance for the
development and commercialisation of Nanobodies(®). Ablynx has now earned a
total of EUR12 million in milestone payments as part of this agreement.

Ablynx and Boehringer Ingelheim entered into an agreement in September 2007 to
collaborate on the discovery, development and commercialisation of up to 10
different Nanobody therapeutics across a range of areas including for example
immunology, oncology and respiratory diseases. The agreement would allow
potential milestone payments of up to EUR125 million for each Nanobody developed
as well as undisclosed royalties to Ablynx. Boehringer Ingelheim is exclusively
responsible for the development, manufacture and commercialisation of any
products resulting from the collaboration. Ablynx retains certain co-promotion
rights in Europe.

Dr Edwin Moses, CEO and Chairman of Ablynx, said: "We are pleased that yet
another Nanobody programme has reached this contractual milestone. The Nanobody
platform continues to deliver across therapeutic areas and also for complex
targets."

-ends-

 About Ablynx [Euronext Brussels: ABLX] - http://www.ablynx.com

Founded in 2001 in Ghent, Belgium, Ablynx is a biopharmaceutical company focused
on 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. The Company currently has over 250 employees.
Ablynx completed a successful IPO on Euronext Brussels [ABLX] on 7 November
2007 and raised EUR50 million through an SPO in March 2010.

Ablynx is developing a portfolio of Nanobody-based therapeutics in a number of
major disease areas, including inflammation, thrombosis, oncology and
Alzheimer's disease. Ablynx now has over 25 programmes in its therapeutic
pipeline including four Nanobodies in clinical development. So far, Nanobodies
have been successfully generated against more than 220 different protein targets
including several complex targets such as chemokines, GPCRs, ion channels and
viruses, which are typically very difficult to address with conventional
monoclonal antibodies.



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

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



[HUG#1448178]





Cpmplete version of the press release:
http://hugin.info/137912/R/1448178/390562.pdf




This announcement is distributed by Thomson Reuters on behalf of
Thomson Reuters clients. The owner of this announcement warrants that:
(i) the releases contained herein are protected by copyright and
other applicable laws; and
(ii) they are solely responsible for the content, accuracy and
originality of the information contained therein.

Source: Ablynx via Thomson Reuters ONE

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Average target price 16,3 €
Spread / Average Target 31%
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Managers
NameTitle
Edwin Moses Chief Executive Officer & Executive Director
Peter John Fellner Chairman
Wim Ottevaere Chief Financial Officer
Antonin Rollet de Fougerolles Chief Scientific Officer
Robert K. Zeldin Chief Medical Officer
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