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ABLYNX ANNOUNCES MILESTONE IN DRUG DISCOVERY COLLABORATION

  • Second Nanobody® targeting a G-protein-coupled receptor (GPCR) enters clinical development
  • Further positive validation of Ablynx's Nanobody platform and its ability to address complex targets that have proven to be difficult to address with conventional antibodies
  • The eighth Nanobody programme now in clinical development

GHENT, Belgium, April 29, 2016 (GLOBE NEWSWIRE) -- Ablynx [Euronext Brussels: ABLX; OTC: ABYLY] today announced that it has received an undisclosed milestone payment from its collaboration with Novartis. The payment was triggered by the clearance of the Investigational New Drug (IND) application by the U.S. Food and Drug Administration (FDA) for the Novartis Phase I study with a Nanobody that binds with an undisclosed GPCR target in inflammation1. The Phase I study is expected to start in Q2 2016.

Dr Edwin Moses, CEO of Ablynx, commented: "We are very pleased that Novartis will soon begin clinical development of this novel Nanobody against a GPCR. This is the eighth Nanobody to enter the clinic. The unique structure of our Nanobodies make them ideal candidates to bind to complex targets such as GPCRs and ion channels, which have proved challenging for other biological-based platforms."

About the collaboration between Novartis and Ablynx

In December 2005, Ablynx and Novartis entered into an agreement to discover and develop novel Nanobody-based therapeutics against a number of disease targets. The deal included R&D payments, license fees, milestones and royalties. Novartis has full responsibility for the development and commercialisation and Ablynx is eligible to receive development and regulatory milestone payments and royalties on sales following commercialisation of the related products.

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 40 proprietary and partnered programmes in development in various therapeutic areas including inflammation, haematology, immuno-oncology, oncology and respiratory disease. The Company has collaborations with multiple pharmaceutical companies including AbbVie, Boehringer Ingelheim, Eddingpharm, Genzyme, Merck & Co., Inc., Merck KGaA, Novartis, Novo Nordisk and Taisho Pharmaceuticals. 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@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@ablynx.com
Follow us on Twitter @AblynxABLX

Ablynx media relations FTI Consulting:
Julia Phillips, Brett Pollard, Mo Noonan, Matthew Moss
t: +44 20 3727 1000
e: ablynx@fticonsulting.com

1 Bradley et al, Molecular Pharmacology 2015, 87:251-62

pdf format of the press release http://hugin.info/137912/R/2008031/742598.pdf

HUG#2008031

Source:Ablynx