Ablynx completes IPO
Belgian biopharmaceutical company Ablynx has successfully completed its initial public offering, priced at 7 euros per share, and has joined the Euronext Brussels index. Pursuant to the offering, 10,714,285 new shares, worth 75.0 million euros ($110.0 million) will be issued by the firm, which has also allocated 1,607,142 shares for over allotment provision. Edwin Moses, Ablynx' chief executive, commented that the positive outcome of the IPO was an indication of the strength of the company's Nanobody development platform and drug pipeline. He added that the proceeds would be used to further the development of its lead candidate, the anti-thrombotic ALX-0081, which is currently being assessed in a Phase I clinical study (Marketletter July 9).
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