-Data From Two Nanobody Drugs Expected in 2H12-
-1H12 Revenue Up 30% Over 2011-
Report is Available for Download at: www.lifesciadvisors.com/clients/ablynx
Ablynx NV (Euronext Brussels: ABLX) recently reported earnings for the first half of 2012 and updated investors on its clinical development progress. We report that the Company is in good financial standing with €76.5MM in cash. We expect that second half of the year to be an exciting time as we should see data from Nanobody candidates ALX-0061 and ALX-0171 for RA and RSV, respectively.
BI Collaboration Produces Three New Drug Candidates. Ablynx has successfully employed the Company’s proprietary Nanobody technology to produce 24 nanobodies; 7 of which are in clinical development in various disease areas. This innovation by the Company’s revolutionary technology platform has resulted in multiple corporate partnerships. Recently, the Company reported continued success with Boehringer Ingelheim (BI), as both companies selected three new development candidates were selected from the collaboration and FTE payments within the alliance were extended for another two years. During the extension, Ablynx is eligible to receive €1.6MM in addition to the €5MM already received. Furthermore, BI has filed a clinical trial application for its Alzheimer’s Nanobody.
Partner Novartis Initiates TAS266 Phase 1 Study. Recently, Novartis (NYSE: NVS) filed an IND for the Nanobody, TAS266. TAS266 is a Nanobody directed against Death Receptor 5 (DR5). Already in the second half of the year, partner Novartis has initiated a Phase 1 study with TAS266 in patients with advanced solid tumors. This is a dose-escalating, open-label trial that will investigate potential dose limiting toxicities, safety, pharmacokinetics, immunogenicity, and tumor response. It will be administered intravenously Q1W and an anticipated 36 patients will be recruited. The Company notes that we can expect results in the first half of 2014.