ABLYNX ANNOUNCES 2011 FULL YEAR RESULTS
(Thomson Reuters ONE) -
REGULATED INFORMATION
Strong year of progress at Ablynx as first Nanobody® reaches clinical proof-of-
concept
GHENT, Belgium, 22(nd) February 2012 - Ablynx (Euronext Brussels: ABLX), the
Belgian-based biopharmaceutical company focused on the discovery and development
of Nanobodies for the treatment of serious life-threatening diseases, today
announced the Company's consolidated results for the year ending 31 December
2011, which have been prepared in accordance with IFRS as adopted by the
European Union.
Operating Highlights
* First clinical proof-of-concept for a Nanobody
* Four Phase II and five Phase I trials for Nanobodies advanced or completed
* Third collaborative deal with Merck Serono, including a ?20 million up-front
payment
Financial Highlights
* Revenues of ?21.9 million
* Net loss for the period of ?43.9 million, reflecting increased R&D
expenditure on higher number of development candidates
* Net cash burn controlled at ?32 million
* Strong financial position with ?83.8 million in cash at period end including
cash, cash equivalents, restricted cash and short-term investments
Commenting on the 2011 results, Dr Edwin Moses, Chairman and CEO of Ablynx,
said:
"Our strategy is to create a broad range of Nanobody-based, value-creating
opportunities, developed initially both by ourselves and with partners. During
2011, Ablynx made substantial progress on many fronts, with the first clinical
proof-of-concept for a Nanobody being achieved in a Phase II trial undertaken
with Pfizer, the signing of a major new partnership and the delivery of our
first Nanobody to patients using the pulmonary route. All are major achievements
and have put our unique Nanobody-based technology platform firmly on the
pharmaceutical map."
"We anticipate further strong progress during the coming year. We expect more
Nanobodies to enter the clinic for the first time and to add further
collaborations with pharmaceutical companies to our partnership list, helping us
to widen the number of opportunities to create value for shareholders and at the
same time manage our cash and diminish risk. We look forward to reporting news
of our progress during 2012."
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.
Webcast and presentation
Dr Edwin Moses, CEO and Chairman of Ablynx, will host a conference call webcast
during which the full year results for 2011 will be presented, followed by a Q&A
session. This event will be held on Thursday, 23 February 2012 at 4.00 p.m. CET.
The conference call will be webcast live and may be accessed on the home page of
the Ablynx website at www.ablynx.com. Shortly thereafter, a replay of the
webcast will be available on the Company's website.
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(at)ablynx.com
Marieke Vermeersch
Investor Relations Manager
t: +32 (0)9 262 00 82
m: +32 (0)479 49 06 03
e: marieke.vermeersch(at)ablynx.com
M:Communications:
Mary-Jane Elliott, Amber Bielecka, Claire Dickinson
t: +44 207 154 2333
e: ablynx(at)mcomgroup.com
Complete version of the press release:
http://hugin.info/137912/R/1588320/498413.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
[HUG#1588320]
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