Ablynx IR Newsletter Q4 – 2013

QUARTERLY NEWSLETTER
Q4 2013
Issue No 4
PARTNERING NEWS
Dear Reader,
On 18th October, Ablynx signed an exclusive license
agreement with Eddingpharm for the development and
commercialisation of the anti-RANKL Nanobody, ALX0141, in Greater China, for the treatment of bone
related disorders, including osteoporosis and bone
metastases.
We are pleased to send you Ablynx’s quarterly
newsletter designed to provide an update for
the investment community.
Ablynx received an upfront payment of €2 million and is
eligible to receive commercial milestones plus tiered,
double-digit royalties of up to 20%. Ablynx will have
access to the clinical data generated by Eddingpharm
and retains full ownership over the programme in other
regions ex Greater China.
This newsletter highlights the key progress
Ablynx has made during the fourth quarter of
2013 and also gives an overview of the investor
events Ablynx has participated in, as well as
the upcoming events where you have an
opportunity to meet with management.
This is Ablynx’s first step in exploring business
opportunities in emerging markets.
PIPELINE UPDATE
On 29th October, Ablynx announced that its partner Boehringer Ingelheim dosed the first healthy volunteers in a Phase I
clinical trial as part of the evaluation of a Nanobody for the treatment of Alzheimer’s disease. The start of the Phase I study
triggered a milestone payment of €5 million to Ablynx. The study is expected to recruit 80 subjects and results are anticipated
during H2 2014.
At the time of its business update for the first nine months of 2013, Ablynx announced that it had adapted the protocol of the
global Phase II trial with caplacizumab in order to help facilitate recruitment. Ablynx is monitoring the situation closely and
during early 2014 the Company will assess whether recruitment has improved sufficiently to complete the trial before the
end of the year. Potential proof-of-concept results on 110 patients would then be available towards the end of 2014. If,
however, recruitment has not improved sufficiently, Ablynx will stop the trial early, analyse and present the data during H1
2014. If these data are encouraging and demonstrate proof-of-concept, a simplified Phase III clinical trial is expected to be
designed and executed.
CORPORATE DEVELOPMENT
Ablynx has seen an important evolution of its shareholder base towards long-term financial institutions, which has allowed the
exit of a large proportion of the remaining venture capital shareholders. During the full year 2013, 17 million shares from
venture capital investors have successfully been placed with new institutional investors in Europe and the United States. As a
result, the free float of the Company has increased from 53% at the end of 2012 to 85% today.
As part of this maturing of Ablynx, the Company established a fully independent Board of Directors with significant industry
experience which further strengthens Ablynx’s position as a leading European biopharmaceutical company. The roles of
Chairman and CEO have been separated with Dr Edwin Moses remaining as Chief Executive Officer and Dr Peter Fellner
appointed as his successor as Chairman. Dr Bo Jesper Hansen and Dr William Jenkins have been appointed as independent
Directors to replace Dr Stephen Bunting and Mr Denis Lucquin who have resigned from the Ablynx Board.
For further information please email us: [email protected] or phone +32 9 262 00 00
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SCIENTIFIC CONFERENCES
FINANCIAL AND CORPORATE NEWS
Ablynx presented pre-clinical proof-of-concept
data from ALX-0761 at the Annual Meeting of the
American College of Rheumatology (ACR). The
poster presentation included data from in vivo
experiments that assessed the efficacy of ALX0761 in a cynomolgus monkey model that mimics
human rheumatoid arthritis. In addition, total
target levels of both IL-17A and IL-17F,
pharmacodynamic biomarkers, immunogenicity
and drug exposure were presented.
Business update for the first nine months of 2013
ALX-0761 is a bi-specific half-life extended
Nanobody that neutralises both IL-17A and IL-17F.
The Nanobody is currently in Phase I clinical
development by Ablynx’s partner Merck Serono.
Following the successful private placement completed on 28th
February 2013, the Company had a positive net cash inflow of €0.2
million (2012: cash burn of €18.8 million), and ended the period with
a strong financial position of €63.0 million in cash, cash equivalents,
restricted cash and short-term investments.
The poster is available on the Ablynx website.
SHAREHOLDERS’ CLUBS AT ABLYNX
On 14th November, Ablynx announced its results for the first nine
months ending 30th September 2013.
Revenues were €16.7 million (2012: €22.2 million) and included FTE
and contract income from on-going collaborations and a milestone
payment from Merck Serono.
Operating expenses decreased to €36.2 million (2012: €45.4 million)
due to lower R&D costs primarily in external development costs. The
net loss for the period was €18.9 million (2012: €22.3 million).
SHAREHOLDER STRUCTURE
Ablynx organises on a regular basis shareholders’
clubs at its headquarters in Ghent where
individual retail investors have the opportunity to
meet with the CFO and visit the laboratories. The
next event (Dutch only) is scheduled to take place
on 13th March 2014 at 17.45h CET. If you would
like to attend, please make your registration via
[email protected]. The calendar for all
upcoming shareholders clubs is available on the
Ablynx website.
Ablynx is evaluating the option to extend the
shareholders’ club to be held in English or French.
Please email [email protected] if you would
like to attend the event in English or French.
FINANCIAL CALENDAR 2014
IR EVENTS IN Q1 2014 INSTITUTIONAL INVESTORS
13th -16th January 2014
Annual JP Morgan Healthcare Conference – San
Francisco – presentation on 16th Jan at 2pm PST
27 February
14 May
28 August
13 November
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Full year results 2013
Q1 2014 results
Half year results 2014
Q3 2014 results
27th March 2014
BioCapital 2014 - Amsterdam
RECENT IR EVENTS
IR EVENTS IN Q1 2014 INDIVIDUAL INVESTORS
During the fourth quarter, Ablynx met with about 90 institutional
investors during 1-1 meetings at the annual KBC Biotech &
Healthcare Conference in New York and the Global Jefferies
Healthcare Conference in London, as well as road shows in Europe
and New York.
22nd March 2014
KBC Private Banking Investors Forum – Ghent
The Company also met with individual investors during four retail
investors’ events organised at Ablynx and a retail investors’ event
organised in Ghent by the Flemish Federation of Investors (VFB).
24th March 2014
VFB Trefpunt – Brussels
MARIEKE VERMEERSCH
Associate Director Investor
Relations
Ablynx nv
Technologiepark 21
9052 Zwijnaarde
Belguim
Tel +32 (0)9 262 00 82
Fax +32 (0)9 262 00 01
Mobile +32 (0) 479 490 603
[email protected]
www.ablynx.com
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