Ablynx Successfully Raises EUR 31.5 Million, in Total EUR 45 Million Placed
GHENT, BELGIUM -- (Marketwire) -- 02/28/13 -- Ablynx (EURONEXT
BRUSSELS: ABLX), the biopharmaceutical company focused on the
discovery and development of Nanobodies(R), announces today that it
has raised EUR 31.5 million through a private placement of new shares
via an accelerated bookbuilding procedure announced on Wednesday 27
February 2013 after the market closed.
The private placement has allowed Ablynx to place 4,377,919 new
shares with a range of domestic and international institutional
investors and qualified institutional buyers in the United States at
a price of EUR 7.2 per share, a 6.7% discount on the previous closing
price. This represents 10.0% of the current number of outstanding
shares and will bring the total number of shares after the issue to
48,157,116. The new shares will be admitted to trading on NYSE
Euronext Brussels following their issuance, which is expected to take
place on 5 March 2013.
The private placement was oversubscribed and certain pre-IPO
shareholders and warrant holders sold 1,872,081 shares at the same
price in conjunction with this transaction.
The funds will be used by Ablynx to:
-- maintain the momentum of ALX-0061 and review paths (e.g.
co-development, fund additional clinical trials, retain (co-)
promotion rights) which could allow the value of this asset to be
-- allow flexibility in the structure and timing of any potential deals
to license clinical assets such as caplacizumab (anti-vWF) and
-- initiate, advance and/or accelerate the pre-clinical development for
wholly- and co-owned programmes with a broad range of risk-return
-- for general corporate purposes.
KBC Securities NV acted as Global Coordinator. KBC Securities NV,
Bryan, Garnier & Co. Limited and Nomura Code Securities Limited acted
as Joint Bookrunners for the placement.
Dr Edwin Moses, Chairman and CEO of Ablynx commented:
"We are very
pleased to announce the successful completion of the private
placement which we believe reflects the strong progress made at
Ablynx over the past year. The new funds will give us increased
flexibility to invest in our Nanobody pipeline and in particular to
build on the successful Phase II results of our rheumatoid arthritis
product, ALX-0061, announced earlier this month. We are grateful to
our existing shareholders for their continuing support and welcome
our new investors. We believe that Ablynx is well placed to deliver
significant value to shareholders in the coming years and we look
forward to updating them on our progress during 2013."
Ablynx is a biopharmaceutical company engaged in the
discovery and development of Nanobodies(R), 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 approximately
25 programmes in the pipeline and five Nanobodies at clinical
development stage. Ablynx has ongoing research collaborations and
significant partnerships with major pharmaceutical companies
including Boehringer Ingelheim, Merck Serono, Novartis and Merck &
Co. The Company is headquartered in Ghent, Belgium. More information
can be found on www.ablynx.com.
Press release in pdf format:
For more information, please contact
Dr Edwin Moses
Chairman and CEO
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
t: +44 207 920 2330
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