Ablynx to float on Euronext Brussels

Ghent, Belgium-based Ablynx is planning to raise new funds through an initial public offering and to apply for admission of its shares to trading on Eurolist by Euronext Brussels this year, subject to market conditions.

The firm hopes to use the funds to advance its Nanobodies, 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 programs 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 program, an anti-thrombotic (ALX-0081), in July 2007 and a second program, which is partnered, is in advanced preclinical development. Ablynx also has ongoing partnerships with several major drugmakers, including Boehringer Ingelheim, Wyeth and Novartis.