ABLYNX ANNOUNCES INTENTION TO LAUNCH AN INITIAL PUBLIC OFFERING (IPO) ON EUROLIST BY EURONEXT BRUSSEL
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GHENT, Belgium, 10 October, 2007 - Ablynx, the biopharmaceutical company focused on the discovery and development of Nanobodies®, is planning to raise new funds through an initial public offering (the "IPO" or "Offering") and to apply for admission of its shares to trading on Eurolist by Euronext Brussels this year, subject to market conditions.
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Nanobodies® are a novel class of therapeutic proteins based on single-domain antibody fragments which have been generated against more than 100 different disease targets. The Company is developing a portfolio of Nanobody®-based therapeutic programmes for a range of serious and life-threatening human diseases, including inflammation, thrombosis, oncology and Alzheimer's disease. Ablynx announced interim phase I data from its first programme, an anti-thrombotic (ALX-0081) in July 2007 and a second programme, which is partnered, is in advanced preclinical development.
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Ablynx also has ongoing research collaborations and significant partnerships with several major pharmaceutical companies, including Boehringer Ingelheim, Wyeth Pharmaceuticals, Novartis, and P&G Pharma. Ablynx is building a diverse and broad portfolio of therapeutic Nanobodies® through these collaborations as well as through its own internal discovery programmes.
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The IPO is expected to consist of an offering of new shares which will be listed on Eurolist by Euronext Brussels. Ablynx intends to use the proceeds of the IPO primarily for the development of its product candidates, including its lead product candidate, ALX-0081 for the treatment and prevention of acute thrombosis and other indications, and to rapidly advance the Company's other internal programmes into development, and to further develop its technology platform.
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J.P. Morgan Securities Ltd. and KBC Securities NV are appointed as joint global coordinators and joint bookrunners.