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Ablynx [Euronext Brussels: ABLX] announced today its consolidated results for 2009, which have been prepared in accordance with IFRS as adopted by the European Union.
Post year-end: Ablynx announced that it had successfully opposed a half-life extension patent which had been granted to Domantis and that this patent had been revoked in full, the Company expecting that this decision will be appealed. The Company also reported the successful generation of functional
Nanobodies against an ion channel and that it had selected a new Nanobody-based pre-clinical development candidate, ALX-0651, which targets a GPCR called CXCR4. This GPCR programme is being developed for hematopoietic stem cell mobilization. The Company also announced new data on pulmonary to systemic administration and needle-free administration of Nanobodies. More recently, the Company reported that it had received notification of a €1.2 million grant from the Flemish agency for Innovation by Science and Technology (IWT) to support the further developments of its anti-IL-6R Nanobody product, ALX-0061.
Ablynx expects to report primary endpoint data on its Phase II trial of ALX-0081 (anti-vWF) in either the fourth quarter of 2010 or the first quarter of 2011. A Phase II study of Ablynx’s orphan drug, ALX-0681, is expected to start in the second or third quarter of 2010. Initial data from the Phase I study with Ablynx’s ALX-0141 (anti-RANKL) are expected to be announced during the third quarter of 2010. Ablynx is currently on track to file an IND equivalent in Europe for ALX-0061 (anti-IL-6R) by the end of 2010. The Company expects to select a new pre-clinical development programme in the second half of 2010 and in line with its stated strategy it will continue to develop its product pipeline alone or with partners.
It is anticipated that Pfizer will conclude the Phase II study in RA and potentially obtain proof-of-concept with the anti-TNFα Nanobody product during the third or fourth quarter of 2010.
Ablynx anticipates obtaining additional milestones from its current partnerships during 2010 and may seek to expand existing partnerships during the year and/or seek new partnerships but on a very selective basis. It also expects to report further developments with its Nanobody technology platform including new data on alternative routes of administration.
The Company expects to move to a new 7,000 m2 facility near its current location which should provide sufficient space for the foreseeable future.
Commenting on the 2009 results and the very good progress made by Ablynx last year, Dr Edwin Moses, Chairman and CEO of Ablynx, said: “2009 was another pivotal year for the Company. We believe we have evolved from an early stage technology platform company with 13 programmes in our pipeline and 1 product in the clinic at the IPO to a clinical development stage company with multiple shots on goal. There are now 4 Nanobody-based products in the clinic and more than 25 programmes in the pipeline. We wish to aggressively progress additional programmes into and through the clinic over the next couple of years and are committed to delivering excellence within our partnerships. We believe Ablynx is now positioned as one of the most advanced, independent, next generation biologics companies in the world.”
Source: Ablynx
Tags: financing
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