ABLYNX ANNOUNCES 2012 FULL YEAR RESULTS
(Thomson Reuters ONE) -
REGULATED INFORMATION
Year of strong operational and financial progress
GHENT, Belgium, 27 February 2013 - Ablynx [Euronext Brussels: ABLX] today
announced its consolidated results for 2012, which have been prepared in
accordance with IFRS as adopted by the European Union.
Operating highlights
* First Nanobody®, ALX-0171 (anti-RSV), successfully delivered directly into
the lungs using a nebuliser
* Second clinical proof-of-concept for Nanobodies achieved with the anti-IL-
6R product, ALX-0061, in RA patients
* Three pre-clinical candidates selected as part of the Strategic Alliance
with Boehringer Ingelheim and FTE payments under that Alliance extended by
two years
* Boehringer Ingelheim filed a Clinical Trials Application for a Nanobody as
part of the Alzheimer's collaboration
* Progress in the Merck Serono collaboration with the selection of a second
pre-clinical candidate, ALX-0751 in oncology
* New partnership signed with Merck & Co for the discovery of Nanobodies
targeting a voltage-gated ion channel and an option to a second undisclosed
target
* Entered into a feasibility study with Algeta to explore the use of
Nanobodies in radio-immunotherapy for oncology
* Strengthened the Board of Directors with the appointment of two key industry
experts (ex-Amgen and ex-GSK)
Financial highlights
* Revenue growth of 22% to ?26.7M (2011: ?21.9M)
* Cash-in increased by 28% to ?36.5M (2011: ?28.5M)
* Operating expenses decreased by 16% to ?56.3M (2011: ?66.7M)
* Net loss for the year reduced by 35% to ?28.5M (2011: ?43.9M)
* Net cash burn well controlled at just ?21.1M
* Strong year-end financial position of ?62.8M in cash, cash equivalents,
restricted cash and short-term investments
Post year end highlights
* Promising 24 week Phase II efficacy and safety results with the anti-IL-6R
Nanobody, ALX-0061, in patients with RA
* Entered into a research collaboration with Spirogen to evaluate the
potential of toxin-Nanobody drug conjugates in cancer
Commenting on the 2012 results, Dr Edwin Moses, Chairman and CEO of Ablynx,
said:
"2012 was an excellent and rewarding year for Ablynx across all areas of our
business. We were able to further demonstrate the power and broad applicability
of the Nanobody platform, including the opportunity to deliver Nanobodies
directly via the pulmonary route, the potential to design best-in-class
molecules and the capability to address difficult disease targets in areas where
conventional technologies have not yet been successful. The progression of our
existing partnerships and the start of new collaborations are a further
endorsement of our achievements to date. During the coming year, we expect
important new partnering deals and advances in existing collaborations as some
of our partnered programmes move into clinical development. We remain committed
to building shareholder value."
Key figures
+--------------------------------------+--------+--------+----------+
| (? million) | 2012 | 2011 | % change |
+--------------------------------------+--------+--------+----------+
| Revenues | 26.7 | 21.9 | 22% |
+--------------------------------------+--------+--------+----------+
| R&D income | 25.6 | 19.9 | 29% |
+--------------------------------------+--------+--------+----------+
| Grants | 1.1 | 2.0 | (45%) |
+--------------------------------------+--------+--------+----------+
| Operating expenses | (56.3) | (66.7) | (16%) |
+--------------------------------------+--------+--------+----------+
| R&D | (46.9) | (56.3) | (17%) |
+--------------------------------------+--------+--------+----------+
| G&A | (9.4) | (10.4) | (10%) |
+--------------------------------------+--------+--------+----------+
| Other operating income/(expense) | (0.2) | (0.7) | (71%) |
+--------------------------------------+--------+--------+----------+
| Operating result | (29.8) | (45.5) | 35% |
+--------------------------------------+--------+--------+----------+
| Finance income (net) | 1.3 | 1.6 | (23%) |
+--------------------------------------+--------+--------+----------+
| Net result | (28.5) | (43.9) | 35% |
+--------------------------------------+--------+--------+----------+
| | |
+--------------------------------------+--------+--------+----------+
| Cash burn | (21.1) | (32.0) | (34%) |
+--------------------------------------+--------+--------+----------+
| Cash at year end((1)) | 62.8 | 83.8 | (25%) |
+--------------------------------------+--------+--------+----------+
((1) )including ?2.7 million restricted cash
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 human diseases, including
inflammation, haematology, oncology and pulmonary disease. Today, the Company
has approximately 25 programmes in the pipeline and five Nanobodies at clinical
development stage. Ablynx has on-going research collaborations and significant
partnerships with major pharmaceutical companies including Boehringer Ingelheim,
Merck Serono, Novartis and Merck & Co. 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(at)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(at)ablynx.com
Follow us on Twitter (at)AblynxABLX
M:Communications:
Mary-Jane Elliott, Amber Bielecka, Claire Dickinson
t: +44 207 920 2330
e: ablynx(at)mcomgroup.com
complete version of the press release:
http://hugin.info/137912/R/1681214/549494.pdf
This announcement is distributed by Thomson Reuters on behalf of
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(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#1681214]
Unternehmensinformation / Kurzprofil:
Datum: 27.02.2013 - 07:31 Uhr
Sprache: Deutsch
News-ID 233701
Anzahl Zeichen: 7796
contact information:
Town:
Ghent/Zwijnaarde
Kategorie:
Business News
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