GHENT, Belgium, Aug. 28, 2014 (GLOBE NEWSWIRE) -- Ablynx [Euronext Brussels: ABLX] today announced its results for the six-month period ending 30 June 2014, which have been prepared in accordance with the IAS 34 "Interim Financial Reporting" as adopted by the European Union. The Company's operational highlights are also reported.
The results will be discussed during a webcast presentation today at 4pm CET, 10am EST
The webcast is accessible on the home page of Ablynx's website at www.ablynx.com or by clicking here
To participate in the Q&A, dial +32(0)2 789 21 26 with confirmation code 6222038
Commenting on the half-year 2014 results, Dr Edwin Moses, CEO of Ablynx, said:
"We are very pleased with the progress we have made during the first six months of the year, both operationally and financially. We delivered our third clinical proof-of-concept and now have a Phase III ready asset, demonstrating an important transition for Ablynx into a late-stage clinical development company. We continued to advance the other lead clinical programmes, ALX-0171 for the treatment of RSV infection in infants and ALX-0061 for the treatment of RA and SLE. Our partner Merck Serono has further progressed ALX-0761, the bi-specific anti-IL-17A/F Nanobody, and started a Phase I/II study in patients with psoriasis."
"We signed a second deal with Merck & Co, this time in the field of cancer immuno-therapeutics, which was a further validation of the broad applicability of our technology and more specifically the potential of the platform to produce multi-specific combinations, which may offer key advantages in developing novel drugs."
"We successfully raised €41.7 million through an over-subscribed private placement of new shares with new and existing institutional investors both in the US and Europe, thereby further expanding and diversifying our shareholder base. The funds raised strengthen our financial position, allowing us to continue to invest in our technology platform and wholly-owned product pipeline and enabling us to make decisions on partnering of assets based on medium to long-term business considerations rather than short-term financial need."
"Finally, we are looking forward to continuing good progress in 2014 for the >30 Nanobody programmes in research and development both as part of our wholly-owned pipeline and through our partnerships. We will also continue to invest in new product and technology programmes in line with our overall business strategy."
|(€ million)||H1 2014||H1 2013||% change|
|Net financial result||1.3||0.4||225%|
|Net operational cash burn||(3.9)||(21.6)||(82%)|
|Cash at June 30th||196.0 (1) (2)||72.0 (3)||172%|
(1) Not including proceeds from the private placement completed on 3 July 2014 (€41.7 million raised)
(2) Including €2.0 million in restricted cash
(3) Including €2.3 million in restricted cash and including proceeds from private placement closed on 28 February 2013 (€31.5 million raised)
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 more than 30 programmes in the pipeline and six Nanobodies in clinical development. Ablynx has on-going research collaborations and significant partnerships with major pharmaceutical companies including AbbVie, Boehringer Ingelheim, 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
Dr Edwin Moses
t: +32 (0)9 262 00 07
m: +44 (0)7771 954 193 /
+32 (0)473 39 50 68
Associate Director Investor Relations
t: +32 (0)9 262 00 82
m: +32 (0)479 49 06 03
Follow us on Twitter @AblynxABLX
Ablynx media relations Consilium Strategic Communications:
Mary-Jane Elliott, Amber Bielecka, Lindsey Neville
t: +44 203 709 5700
complete version of the press release http://hugin.info/137912/R/1851555/646738.pdf