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Ablynx Receives Milestone Payment as Collaborator Receives IND Approval for a Nanobody in Oncology


April 2, 2012 - Ghent, Belgium

Ablynx [Euronext Brussels: ABLX] todayannouncedthat it has received a EUR400,000 milestone payment from itscollaboration withNovartis. The payment was triggered by the approval of anInvestigational NewDrug (IND) application from the U.S. Food and Drug Administrationfor thePhase I clinical trial for a Nanobody® licensed to Novartis. This isthe firstdevelopment candidate emerging from the licensing agreement betweenAblynx andNovartis.

Ablynx and Novartis entered into a commercial licensing agreement in July2010,under which Novartis obtained licenses to develop and commercialiseNanobodiesagainst two targets (including this one for which an IND has beenapproved),which originated from the research agreement between the parties, enteredintoin 2005. Since July 2010, Novartis has full responsibility for thecontinuedprogress of both programmes and Ablynx is eligible to receivedevelopment-based milestone payments and royalties on sales followingcommercialisation of theproducts.

Dr Edwin Moses, CEO and Chairman of Ablynx, commented:

"We are excited that Novartis has obtained IND approval and that they willbringthis first Nanobody into clinical development in an oncology setting.Thisdevelopment candidate demonstrates the power of the Nanobodyplatform inaddressing complex target classes that are challenging to addresswithconventional antibodies."

About Investigational New Drug Application (IND)

An IND is an application that a drug sponsor must submit to U.S. Food andDrugAdministration (FDA) before beginning tests of a new drug on humans.The INDpackage contains the plan for the study and is supposed to give acompletepicture of the drug, including its structural formula, animal testresults andmanufacturing information. The equivalent in Europe is called anInvestigationalMedicinal Product Dossier (IMPD).

About Ablynx

Ablynx is a biopharmaceutical company engaged in the discovery anddevelopmentof Nanobodies®, a novel class of therapeutic proteins based onsingle-domainantibody fragments, for a range of serious and life-threatening humandiseases,including inflammation, haematology, oncology and pulmonary disease.Today, theCompany has over 25 programmes in the pipeline and seven Nanobodies atclinicaldevelopment stage. Ablynx has ongoing research collaborations andsignificantpartnerships with major pharmaceutical companies, includingBoehringerIngelheim, Merck Serono and Novartis. The Company is headquartered inGhent,Belgium. More information can be found on www.ablynx.com.

Complete version of the press release:

http://hugin.info/137912/R/1598908/504335.pdf

This announcement is distributed by Thomson Reuters on behalf ofThomson Reuters clients. The owner of this announcement warrants that:

(i) the releases contained herein are protected by copyright and other applicable laws; and

(ii) they are solely responsible for the content, accuracy and originality of the information contained therein.

Source: Ablynx via Thomson Reuters ONE[HUG#1598908]

For more information, please contact

Ablynx:
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
e: Email Contact

Marieke Vermeersch
Investor Relations Manager
t: +32 (0)9 262 00 82
m: +32 (0)479 49 06 03
e: Email Contact

M:Communications:
Mary-Jane Elliott, Amber Bielecka, Claire Dickinson
t: +44 207 920 2330
e: Email Contact

MarketWire

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