Date: 2013-02-28
Type of information: Private placement
Company: Ablynx (Belgium)
Investors: domestic and international institutional investors, qualified institutional buyers in the United States
Amount: €31.5 million
Funding type: private placement
Planned used: The funds will be used by Ablynx to maintain the momentum of ALX-0061 and review paths (e.g. co-development, fund additional clinical trials, retain (co-) promotion rights) which could allow the value of this asset to be maximized and to allow flexibility in the structure and timing of any potential deals to license clinical assets such as caplacizumab (anti-vWF) and ALX-0171 (anti-RSV). They will also contribute to initiate, advance and/or accelerate the pre-clinical development for wholly- and co-owned programmes with a broad range of risk-return profiles.
Others: Ablynx, the biopharmaceutical company focused on the discovery and development of Nanobodies®, has raised €31.5 million through a private placement of new shares via an accelerated bookbuilding procedure announced on Wednesday 27 February 2013 after the market closed. The private placement has allowed Ablynx to place 4,377,919 new shares with a range of domestic and international institutional investors and qualified institutional buyers in the United States at a price of €7.2 per share, a 6.7% discount on the previous closing price. This represents 10.0% of the current number of outstanding shares and will bring the total number of shares after the issue to 48,157,116. The new shares will be admitted to trading on NYSE Euronext Brussels following their issuance, which is expected to take place on 5 March 2013.
The private placement was oversubscribed and certain pre-IPO shareholders and warrant holders sold 1,872,081 shares at the same price in conjunction with this transaction.
KBC Securities NV acted as Global Coordinator. KBC Securities NV, Bryan, Garnier & Co. Limited and Nomura Code Securities Limited acted as Joint Bookrunners for the placement.
Earlier this month, Ablynx has announced efficacy and safety data for its anti-IL-6R Nanobody, ALX-0061, at the 24 week final analysis of the Phase II part of a combined Phase I/II study in patients with moderately to severely active rheumatoid arthritis (RA) on a stable background of methotrexate.
Therapeutic area: Autoimmune diseases – Inflammatory diseases - Rheumatic diseases - Cancer - Oncology - Infectious diseases
