ABLYNX ANNOUNCES 2014 FULL YEAR RESULTS
(Thomson Reuters ONE) -
REGULATED INFORMATION
A company with a powerful proprietary Nanobody platform and a hybrid business
model
which together have generated multiple later-stage clinical assets and a wide
range of
promising discovery programmes
GHENT, Belgium, 26 February 2015 - Ablynx [Euronext Brussels: ABLX] today
announced its consolidated results for 2014, which have been prepared in
accordance with IFRS as adopted by the European Union.
The FY14 results will be discussed during a webcast presentation today at 3 pm
CET, 9 am EST
The webcast may be accessed on the home page of the Ablynx website at
www.ablynx.com or by
clicking here. To participate in the Q&A, please dial +32(0)2 404 06 62
with confirmation code 9002858
Operating highlights
* Achieved positive results from six clinical studies, including clinical
proof-of-concept Phase II data for its anti-vWF Nanobody, caplacizumab, in
patients with acquired TTP
* Announced the initiation of four clinical studies, two wholly-owned and two
partnered programmes (Merck Serono and AbbVie)
* In February, further validated the discovery platform through a major
discovery and licensing agreement with Merck & Co. in the field of immuno-
oncology (with a focus on multi-specific Nanobodies) with an upfront payment
of ?20 million, ?10.7 million in research funding and up to ?1.7 billion in
potential milestone payments and royalties. Made encouraging progress with a
number of programmes since the start of this collaboration
* In June, presented positive pre-clinical proof-of-concept data for
Nanobodies targeting the potassium voltage-gated ion channel, Kv1.3, in a
rat model
* In September, signed a second licensing deal with the Chinese
biopharmaceutical company, Eddingpharm, this time for the development and
commercialisation of the anti-TNFa Nanobody, ozoralizumab, in Greater China
in all indications, including RA
* In November, presented strong in vivo proof-of-concept data for its inhaled
anti-RSV Nanobody, ALX-0171, in a neonatal lamb model of RSV infection in
infants
* In November, strengthened the management team with the appointment of Johan
Heylen from GSK as Chief Commercial Officer
Financial highlights
* Cash received from collaborations of ?30.1 million (2013: ?157.6 million)
* Growth in total income of 37% to ?49.3 million (2013: ?35.9 million)
* Net loss for the period reduced by 35% to ?12.7 million (2013: ?19.5
million)
* Net cash burn of ?34.1 million, excluding the net proceeds from the private
placement of new shares
* In July, raised ?41.7 million in a private placement of new shares
(accelerated book building procedure)
* At 31(st) December 2014, strong financial position of ?206.2 million in
cash, cash equivalents, restricted cash and short-term investments (2013:
?200.4 million)
Commenting on the 2014 results, Dr Edwin Moses, CEO of Ablynx, said:
"This was yet another very important year for Ablynx as we continued to make
good progress with our lead clinical programmes and took our first steps towards
establishing an infrastructure to enable our own commercialisation of certain
Nanobody programmes. With a well-balanced pipeline of partnered and wholly-owned
later-stage clinical assets and various innovative early stage programmes, we
are entering an exciting period during which we will continue to focus on
delivering sustainable value to all our stakeholders."
Financial review
Key figures
+-------------------------------------------+-----------+-----------+--------+
|(? million) |2014 |2013 |% change|
+-------------------------------------------+-----------+-----------+--------+
|Total revenue and grant income |49.3 |35.9 |37% |
+-------------------------------------------+-----------+-----------+--------+
| R&D income |47.7 |33.2 |44% |
+-------------------------------------------+-----------+-----------+--------+
| Grant income |1.6 |2.8 |(43%) |
+-------------------------------------------+-----------+-----------+--------+
|Operating expenses |(65.5) |(53.7) |22% |
+-------------------------------------------+-----------+-----------+--------+
| R&D |(54.5) |(43.7) |25% |
+-------------------------------------------+-----------+-----------+--------+
| G&A |(11.0) |(10.0) |11% |
+-------------------------------------------+-----------+-----------+--------+
|Other operating income/(expense) |0.0 |0.1 |- |
+-------------------------------------------+-----------+-----------+--------+
|Operating result |(16.2) |(17.7) |8% |
+-------------------------------------------+-----------+-----------+--------+
|Net financial result |3.5 |(1.8) |- |
+-------------------------------------------+-----------+-----------+--------+
|Net result |(12.7) |(19.5) |35% |
+-------------------------------------------+-----------+-----------+--------+
| | | | |
+-------------------------------------------+-----------+-----------+--------+
|Net cash (burn)/inflow excluding ABO |(34.1) |107.6 | |
|proceeds | | | |
+-------------------------------------------+-----------+-----------+--------+
|Net cash inflow |5.8 |137.6 |(96%) |
+-------------------------------------------+-----------+-----------+--------+
|Cash at year end * |206.2 ((1))|200.4 ((2))|3% |
+-------------------------------------------+-----------+-----------+--------+
((1) )including ?2.0 million in restricted cash
((2) )including ?2.3 million in restricted cash
* defined as liquidity position in the cash flow statement
About Ablynx
Ablynx is a biopharmaceutical company engaged in the development of Nanobodies®,
proprietary therapeutic proteins based on single-domain antibody fragments,
which combine the advantages of conventional antibody drugs with some of the
features of small-molecule drugs. Ablynx is dedicated to creating new medicines
which will make a real difference to society. Today, the Company has more than
30 proprietary and partnered programmes in development in therapeutic areas
including inflammation, haematology, oncology and respiratory disease. The
Company has collaborations and significant partnerships with pharmaceutical
companies including AbbVie, Boehringer Ingelheim, Eddingpharm, Merck & Co, 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
CEO
t: +32 (0)9 262 00 07
m: +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
Ablynx media relations Consilium Strategic Communications:
Mary-Jane Elliott, Jonathan Birt, Amber Bielecka, Lindsey Neville
t: +44 203 709 5700
e: ablynx(at)consilium-comms.com
Complete version of the press release:
http://hugin.info/137912/R/1897290/673345.pdf
This announcement is distributed by GlobeNewswire on behalf of
GlobeNewswire 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 GlobeNewswire
[HUG#1897290]
Unternehmensinformation / Kurzprofil:
Datum: 26.02.2015 - 07:00 Uhr
Sprache: Deutsch
News-ID 374358
Anzahl Zeichen: 9353
contact information:
Town:
Ghent/Zwijnaarde
Kategorie:
Business News
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