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Ablynx N.V.. (5/22/17). "Press Release: Novel Nanobody to Start Clinical Development in Osteoarthritis. Ablynx to Receive €15 Million Milestone Payment". Ghent.

Organisations Organisation Ablynx N.V. (Euronext Brussels: ABLX, OTC: ABYLY)
  Organisation 2 Merck KGaA
  Group Merck (DE) (Group)
Products Product ALX-1141 (Nanobody, Ablynx / Merck KGaA)
  Product 2 Nanobodies®
Persons Person Moses, Edwin (Ablynx 200603– CEO before non-exec Board Member 200411– before Oxford Asymmetry)
  Person 2 Vanneste, Lies (Ablynx 201705 Director Invesor Relations)
     


Ablynx [Euronext Brussels: ABLX; OTC: ABYLY] today announced that it has completed the preparation of a pre-clinical package for a novel Nanobody® (ALX-1141) in osteoarthritis. As part of the ongoing collaboration between Ablynx and Merck KGaA (Darmstadt, Germany) on this programme, Merck has accepted the pre-clinical package and this has triggered a €15 million milestone payment to Ablynx. Merck is now responsible for further clinical development of the molecule.

ALX-1141 is the first clinical candidate to emerge from the collaboration signed in 2011 between Ablynx and Merck to co-discover and co-develop Nanobodies against two targets in osteoarthritis. Ablynx is eligible for approximately €120 million in development, regulatory and commercial milestones plus tiered royalties into double digits upon successful development and approval of the product.

Dr Edwin Moses, CEO of Ablynx, commented: “Obtaining pre-clinical proof-of-concept was an important milestone in this collaboration. Our partner Merck has a great deal of experience in osteoarthritis and we are very pleased with their decision to advance this molecule into clinical development. With no disease-modifying drugs currently approved for osteoarthritis, there is a huge unmet need for new treatments. This Nanobody has the potential to become a first-in-class treatment option for patients suffering from this degenerative joint disease. It is the second Nanobody that is expected to enter clinical development originating from the various alliances between Ablynx and Merck. The first is the bi-specific anti-IL17A/F Nanobody for which encouraging results of a Phase Ib study in psoriasis were recently published.”


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 45 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

Lies Vanneste
Director Investor Relations
t: +32 (0)9 262 01 37
m: +32 (0)498 05 35 79
e: lies.vanneste@ablynx.com
@AblynxABLX

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


Disclaimer

Certain statements, beliefs and opinions in this press release are forward-looking, which reflect the Company or, as appropriate, the Company directors’ current expectations and projections about future events. By their nature, forward-looking statements involve a number of risks, uncertainties and assumptions that could cause actual results or events to differ materially from those expressed or implied by the forward-looking statements. These risks, uncertainties and assumptions could adversely affect the outcome and financial effects of the plans and events described herein. A multitude of factors including, but not limited to, changes in demand, competition and technology, can cause actual events, performance or results to differ significantly from any anticipated development. Forward looking statements contained in this press release regarding past trends or activities should not be taken as a representation that such trends or activities will continue in the future. As a result, the Company expressly disclaims any obligation or undertaking to release any update or revisions to any forward-looking statements in this press release as a result of any change in expectations or any change in events, conditions, assumptions or circumstances on which these forward-looking statements are based. Neither the Company nor its advisers or representatives nor any of its parent or subsidiary undertakings or any such person’s officers or employees guarantees that the assumptions underlying such forward-looking statements are free from errors nor does either accept any responsibility for the future accuracy of the forward-looking statements contained in this press release or the actual occurrence of the forecasted developments. You should not place undue reliance on forward-looking statements, which speak only as of the date of this press release.

   
Record changed: 2017-06-07

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