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Ablynx [Euronext Brussels: ABLX] today announces that it has raised €41,720,822 through a private placement of new shares via an accelerated book building procedure announced on 30 June 2014.

The private placement has allowed Ablynx to place 4,908,332 new shares with domestic and international institutional investors at a price of €8.50 per share, a 5.56% discount to the previous day's closing price. The new shares represent 10% of the current number of outstanding shares and will bring the total number of shares after the issue to 53,991,659. The new shares will be admitted to trading on Euronext Brussels following their issuance, which is expected to take place on 3 July 2014.

The funds will be used by Ablynx:

  • to allow flexibility in the choices regarding further development of the Company's currently fully-owned clinical assets caplacizumab (anti-vWF) and ALX-0171 (anti-RSV);
  • to continue to build momentum with Nanobodies® targeted to immune check-point inhibitors and accelerate the development of such assets both in wholly-owned programmes and with partners;
  • to initiate, continue to advance, and/or accelerate the pre-clinical and clinical development of wholly- and co-owned programmes to further expand the Company's diverse portfolio of programme assets; and
  • for general corporate purposes.

Jefferies International Limited, KBC Securities NV and Kempen & Co N.V. acted as Joint Bookrunners for the placement.

Dr Edwin Moses, 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 in our choices regarding the further development of our fully-owned pre-clinical and clinical assets and co-owned programmes, as well as helping us to continue to build value and momentum with Nanobodies targeted to immune checkpoint inhibitors. 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 the remainder of 2014."

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