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01:35:20 pm

Ablynx Announces 2014 Full Year Results - Yahoo Finance

in the internet field of immuno-oncology (with a focus on multi-specific Nanobodies) with an upfront payment of hyperlink EURO20 million, EURO10.7 million in research funding and up to EURO1.7 billion in potential milestone payments and royalties. Made encouraging progress with a number of programmes since the start of this collaboration In June, presented positive pre-clinical proof-of-concept data for Nanobodies targeting the potassium voltage-gated ion channel, Kv1.3, in a rat model In September, signed a second licensing deal with the Chinese biopharmaceutical company, Eddingpharm, this time for the development and commercialisation of the anti-TNFa Nanobody, ozoralizumab, in Greater China in all indications, including RA In November, presented strong in vivo proof-of-concept data for its inhaled anti-RSV Nanobody, ALX-0171, in a neonatal lamb model of RSV infection in infants In November, strengthened the management team with the appointment of Johan Heylen from GSK as Chief Commercial Officer Financial highlights Cash received from collaborations of EURO30.1 million (2013:EURO157.6 million) Growth in total income of 37% to EURO49.3 million (2013:EURO35.9 million) Net loss for the period reduced by 35% to EURO12.7 million (2013:EURO19.5 million) Net cash burn of EURO34.1 million, excluding the net proceeds from the private placement of new shares In July, raised EURO41.7 million in a private placement of new shares (accelerated book building procedure) At 31st December 2014, strong financial position of EURO206.2 million in cash, cash equivalents, restricted cash and short-term investments (2013:EURO200.4 million) Commenting on the 2014 results, Dr Edwin Moses, CEO of Ablynx, said: "This was yet another very important year for Ablynx as we continued to make good progress with our lead clinical programmes and took our first steps towards establishing an infrastructure to enable our own commercialisation of certain seo Nanobody programmes. With a well-balanced pipeline of partnered and wholly-owned later-stage clinical assets and various innovative early stage programmes, we are entering an exciting period during which we will continue to focus on delivering sustainable value to all our stakeholders." Financial review (1) including EURO2.0 million in restricted cash (2) including EURO2.3 million in restricted cash * defined as liquidity position in the cash flow statement About Ablynx Ablynx is a biopharmaceutical company engaged in the development of Nanobodies(R) , proprietary therapeutic proteins based on single-domain antibody fragments, which combine the advantages of conventional antibody drugs with some of the features of small-molecule drugs. Ablynx is dedicated to creating new medicines which will make a real difference to society. Today, the Company has more than 30 proprietary and partnered programmes in development in therapeutic areas including inflammation, haematology, oncology and respiratory disease. The Company has collaborations and significant partnerships with pharmaceutical companies including AbbVie, Boehringer Ingelheim, Eddingpharm, Merck & Co, Merck Serono and Novartis. The Company is headquartered in Ghent, Belgium.

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