The News

Ablynx announces intention to launch an Initial Public Offering (IPO) on Eurolist by Euronext Brussels

10/10/2007

GHENT, Belgium, 10 October, 2007 – Ablynx, the biopharmaceutical company focused on the discovery and development of Nanobodies®, is planning to raise new funds through an initial public offering (the "IPO" or "Offering") and to apply for admission of its shares to trading on Eurolist by Euronext Brussels' this year, subject to market conditions.

Nanobodies® are a novel class of therapeutic proteins based on single-domain antibody fragments which have been generated against more than 100 different disease targets. The Company is developing a portfolio of Nanobody®-based therapeutic programmes for a range of serious and life-threatening human diseases, including inflammation, thrombosis, oncology and Alzheimer’s disease. Ablynx announced interim phase I data from its first programme, an anti-thrombotic (ALX-0081) in July 2007 and a second programme, which is partnered, is in advanced preclinical development.

Ablynx also has ongoing research collaborations and significant partnerships with several major pharmaceutical companies, including Boehringer Ingelheim, Wyeth Pharmaceuticals, Novartis, and P&G Pharma. Ablynx is building a diverse and broad portfolio of therapeutic Nanobodies® through these collaborations as well as through its own internal discovery programmes.

The IPO is expected to consist of an offering of new shares which will be listed on Eurolist by Euronext Brussels. Ablynx intends to use the proceeds of the IPO primarily for the development of its product candidates, including its lead product candidate, ALX-0081 for the treatment and prevention of acute thrombosis and other indications, and to rapidly advance the Company’s other internal programmes into development, and to further develop its technology platform.

J.P. Morgan Securities Ltd. and KBC Securities NV are appointed as joint global coordinators and joint bookrunners.
 
This announcement may be an advertisement and is not a prospectus and investors should not subscribe for or purchase any shares referred to in this announcement except on the basis of information in the prospectus ("the Prospectus") to be published by Ablynx NV (the "Company") in due course in connection with the admission of the ordinary shares in the capital of the Company to Eurolist by Euronext Brussels.

This announcement is being communicated (i) in the UK only to persons who have professional experience in matters relating to investments falling within Article 19 of the Financial Services and Markets Act 2000 (Financial Promotion) Order 2005 and (ii) to persons outside the UK only where permitted by applicable law (all such persons being referred to as "relevant persons"). This announcement is only directed at relevant persons and other persons should not rely on or act upon this announcement or any of its contents.

This announcement has been prepared and issued by the Company and is the sole responsibility of the Company, and has been approved solely for the purposes of Section 21 of the Financial Services and Markets Act 2000 ("FSMA").

This announcement does not constitute an offer of securities for sale in the United States of America nor does it constitute an offer to sell, or the solicitation of an offer to buy, and there shall not be any sale of the securities, in any jurisdiction in which such offer, solicitation or sale would be unlawful prior to its registration or qualification under the laws of such jurisdiction.  Neither this announcement nor any copy of it may be taken into the United States of America, Canada, Japan or Australia or distributed or published, directly or indirectly, in the United States of America, Canada, Japan or Australia.  Any failure to comply with this restriction may constitute a violation of US, Canadian, Japanese or Australian securities law.  The securities referred to herein have not been and will not be registered under the US Securities Act of 1933, as amended (the "Securities Act") and may not be offered or sold in the United States or to or for the benefit of US persons (as such term is defined in Regulation S pursuant to the Securities Act) unless they are registered pursuant to the Securities Act or pursuant to an available exemption therefrom.  No public offering of securities of Ablynx NV/SA is being made in the United States of America.

About Ablynx – Founded in 2001 in Ghent, Belgium, Ablynx is a biopharmaceutical company focused on the discovery and development of Nanobodies®, a novel class of therapeutic proteins based on single-domain antibody fragments, for a range of serious and life-threatening human diseases. The Company currently has over 130 employees.

Ablynx is developing a portfolio of Nanobody®-based therapeutic programmes in a number of major disease areas, including inflammation, thrombosis, oncology and Alzheimer’s disease. Already, Nanobodies® have been generated against more than 100 different disease targets. Efficacy data has been obtained in 16 in vivo models for Nanobodies® against a range of different targets.

Ablynx has established a broad patent estate around its Nanobody® technology platform. It has filed many patent applications describing further aspects of the Nanobody® technology and its therapeutic applications. Ablynx has in-licensed intellectual property describing Nanobody® libraries, their immobilization and use. It also developed and patented a proprietary procedure for discovering and generating Nanobodies®: the Nanoclone® technology.

Ablynx has ongoing research collaborations and significant partnerships with several major pharmaceutical companies, including Boehringer Ingelheim, Wyeth Pharmaceuticals, Novartis, and P&G Pharma. Ablynx is building a diverse and broad portfolio of therapeutic Nanobodies® through these collaborations as well as through its own internal discovery programmes. Ablynx announced interim phase I data from its first programme, an anti-thrombotic (ALX-0081) in July 2007 and another programme, which is partnered, is in advanced preclinical development.

Nanobody® is a registered trademark of Ablynx NV.

For more information, please contact:

UK/International media enquiries - Northbank Communications:
Sue Charles, Annabel Entress, Justine Lamond, Tony Stephenson
t: +44 (0)20 7268 3002
m: +44 (0)7968 726 585 (SC)
e: ablynx@northbankcommunications.com

Belgium media enquiries – Interel:
Jan Van Heuverswyn, Joris Bulteel, Inge Staelens
t: +32 (0)2 761 66 31
m: +32 (0)475 370 338 (JVH)
e: JVH@interel.eu

Contacts at 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: edwin.moses@ablynx.com

Eva-Lotta Allan
Chief Business Officer
t: +32 (0)9 262 00 75
m: +32 (0)475 78 36 21 / +44 (0)7990 570 900
e: eva-lotta.allan@ablynx.com