Transcript Corporate presentation

Nanobodies®
creating better medicines
Corporate presentation
January 2016
Forward looking statements
Certain statements, beliefs and opinions in this presentation are forward-looking, which reflect the
Company or, as appropriate, the Company directors’current expectations and projections about
future events. By their nature, forward-looking statements involve a number of risks, uncertainties
and assumptions that could cause actual results or events to differ materially from those expressed
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adversely affect the outcome and financial effects of the plans and events described herein. A
multitude of factors including, but not limited to, changes in demand, competition and technology,
can cause actual events, performance or results to differ significantly from any anticipated
development. Forward looking statements contained in this presentation regarding past trends or
activities should not be taken as a representation that such trends or activities will continue in the
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update or revisions to any forward-looking statements in this presentation as a result of any
change in expectations or any change in events, conditions, assumptions or circumstances on
which these forward-looking statements are based. Neither the Company nor its advisers or
representatives nor any of its parent or subsidiary undertakings or any such person’s officers or
employees guarantees that the assumptions underlying such forward-looking statements are free
from errors nor does either accept any responsibility for the future accuracy of the forward-looking
statements contained in this presentation or the actual occurrence of the forecasted developments.
You should not place undue reliance on forward-looking statements, which speak only as of the
date of this presentation.
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Ablynx
Powerful platform generating potentially innovative medicines
CORPORATE
• Platform technology and late-stage clinical development company
• 350 staff in Ghent, Belgium
TECHNOLOGY
• Pioneer in next generation antibody-derived drugs – Nanobodies®
• >500 patent applications and granted patents; critical know-how
• Validation through multiple partnerships with top tier pharma companies
PRODUCTS
• ~40 wholly-owned and partnered programmes
• 1 Phase III and 4 Phase II studies ongoing in-house
• First potential launch in 2018
PARTNERS
• AbbVie, Boehringer Ingelheim, Eddingpharm, Genzyme, Merck &Co., Inc.,
Merck KGaA, Novartis, Novo Nordisk and Taisho Pharmaceuticals
• >€380M cash received; >€7Bn in potential milestones + royalties
FINANCIALS
• €262M in cash at 30th September 2015
• €277M raised in equity
• €100M of issued Convertible Bonds maturing in 2020
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Ablynx
Diversified shareholder base
• Ordinary shares listed on Euronext Brussels (ABLX)
• Sponsored Level I ADRs on the US OTC market (ABYLY)
• 54.8M shares outstanding
• 2.7M outstanding warrants
% of institutional shareholders by geography
(representing 70% of total shares outstanding)
Breakdown of share capital
5.0%
4.5%
Fidelity Management Research (US)
4.4%
4.0%
3.9%
3.8%
3.3%
65.0%
France
4%
Aviva Investors (UK)
3.1%
3.0%
Taube Hodson (UK)
Other
5%
Scandinavia
2%
US
35%
Abingworth Management (UK)
Boehringer Ingelheim (DE)
Perceptive Advisors (US)
JP Morgan Asset Management (UK)
Benelux
28%
Oppenheimer Funds (US)
Polar Capital Funds Plc (UK)
UK
27%
Other shareholders
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Strong performance in 2015
Excellent progress in all areas
Development & Discovery
• Initiated Phase III study with caplacizumab (vWF) in
acquired TTP
• Initiated 2 Phase IIb RA studies with ALX-0061 (IL-6R)
(partnership with AbbVie)
• Initiated Phase II SLE study with ALX-0061 (IL-6R)
(partnership with AbbVie)
• Completed recruitment for Phase I/IIa safety study in
infants with ALX-0171 (RSV)
• Merck KGaA completed Phase Ib study in psoriasis
patients with ALX-0761 (bi-specific IL-17A/F Nanobody)
• Achieved pre-clinical POC with bi-specific Nanobody
programme in immuno-oncology (partnership with Merck
& Co., Inc.)
• Initiated 4 new internal discovery programmes and ~10
new partnered programmes
Financial & Commercial
• €100M raised through a 5-year Convertible Bond
• Expanded immuno-oncology collaboration with Merck &
Co., Inc. to include a total of 17 programmes; €5.7Bn in
potential milestones plus royalties
• Signed collaboration with Novo Nordisk to utilise multispecific Nanobodies in a specific indication; €5M upfront
and €182M in potential milestones plus royalties
• Signed licensing deal with Taisho Pharmaceuticals to
develop and commercialise ozoralizumab (TNFα) in
Japan
• Extended the ion channel collaboration with Merck &
Co., Inc. in Neurology
• Signed research collaboration with Genzyme to explore
the potential of a Nanobody targeting an ion channel in
Multiple Sclerosis
• Began to build a commercial organisation to support the
launch of caplacizumab in EU and USA
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Unique technology
Nanobodies
Derived from heavy-chain only antibodies
• Camelid heavy-chain only antibodies are stable and fully functional
• Nanobodies represent the next generation of antibody-derived biologics
VH
VHH
CH1
VHH
VL
CL
CH2
CH3
Conventional
antibodies
CH2
CH3
Heavy chain only
antibodies
12-15kDa
Ablynx’s Nanobody
• small and robust
• easily linked together
• sequence homology comparable
to humanised/human mAbs
• nano- to picomolar affinities
• able to bind and block challenging
targets
• multiple administration routes
• manufacturing in microbial cells
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Ablynx’s drug discovery engine
Rapid generation of novel biologics
Immunise llamas
with antigen
and/or
Use proprietary synthetic
Nanobody phage libraries
Wide range of highly
diverse Nanobodies with
0.1-10nM affinities
Formatted
Nanobodies
Cloned into microbial
systems and produced
through fermentation
~12-18 months
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Ablynx’s Nanobodies
Platform advantages
Mix and match
Multiple delivery routes
Multi-specific Nanobodies that
address different targets in a single
drug molecule
Inhalation
Ocular
Oral-to-topical
Manufacturing
High-yield,
highconcentration,
low-viscosity,
microbial
production
Able to bind and block
challenging targets
Customised
half-life extension
Hours/days/weeks
Nanobodies
against ion
channels and
GPCRs
Albuminbinding
Nanobody
Fc
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Broad product pipeline
Hybrid business model fuels the pipeline
~40 programmes, 5 Nanobodies in clinical development
Product
Indication
Target
Pre-clinical
Phase I
caplacizumab
aTTP
vWF
ALX-0061
RA
IL-6R
RA
IL-6R
SLE
IL-6R
ALX-0171
RSV
RSV
Up to 17
programmes
Immuno-Oncology
Various
BI 836880
Oncology
VEGF/Ang2
ozoralizumab
RA
TNFα
RA
TNFα
Greater China
ALX-0141
Bone disorders
RANKL
Greater China
ALX-0761
Psoriasis
IL-17A/IL-17F
~ 15 whollyowned and
partnered
programmes
Various
Phase II
Phase III
Filing
+
Japan
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Key value drivers
Immuno-oncology (I/O)
Changing the cancer treatment paradigm
Huge market potential
• Market expected to grow to >$43bn by 2020*
• I/O drugs expected to treat 60% of cancers*
• Proven substantial survival impact
Multiple targets
• Increasing number of targets
• Combination therapies are the future
Multi-specific Nanobodies the next wave!
•
•
•
•
Bind multiple targets (2, 3, 4 or 5) with one Nanobody molecule
Potential to increase efficacy and avoid escape mechanisms
Technology allows rapid exploration of combinations
Manufacturing simplicity and cost-effectiveness
*BofA Merrill Lynch July 2015
Nature Reviews - 2012
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Immuno-oncology (I/O)
Multi-specific Nanobodies versus combination mAbs
One tri-specific Nanobody is 4x smaller than a mAb
More difficult for mAbs to bind to
different targets simultaneously
mAb 2
Tri-specific
Nanobody
mAb 1
mAb 3
mAb
Multi-specific Nanobodies may block
multiple targets simultaneously
Target 1
Target 2
Target 1
Target 3
Target 2
Target 3
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Multi-specific Nanobodies
Major immuno-oncology collaboration with Merck & Co., Inc.
Merck & Co., Inc.
leader in the field
Merck & Co., Inc. and
Ablynx in collaboration
•
Heavily investing in I/O R&D pipeline (~80% of total R&D budget*)
•
Keytruda® approved in advanced melanoma (first line) and metastatic
NSCLC
•
Sales of Keytruda® estimated to reach $6Bn by 2020**
•
>160 clinical studies for Keytruda® in >30 tumor types
•
Targeting multiple immune-checkpoint modulators
•
Up to 17 fully-funded Nanobody programmes; focus on multi-specific
combinations
•
€33M upfront; up to €5.7Bn in potential future milestones plus royalties
•
First product could enter the clinic in 2017
First in vivo pre-clinical milestone (€3.5M) achieved in
October 2015 with a bi-specific Nanobody
*Bryan Garnier Oct 2015
**Leerink August 2015
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Proprietary tetravalent anti-GITR Nanobody
Efficacy as monotherapy or in combination with anti-PD1 mAb
Tumour efficacy in a syngeneic mouse model
Vehicle
Irrelevant Nb + PD-1 mAb
GITR Nb
GITR Nb + PD-1 mAb
GITR Nb
PD1 mAb
CT26 colon carcinoma tumours were grown to 90 mm3 in size prior to start of treatment (Day 0)
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Proprietary tetravalent anti-GITR Nanobody
Efficacy as monotherapy or in combination with anti-PD1 mAb
Individual tumor efficacy plots
Vehicle
Irr Nb + PD-1 mAb
0/10 Reg
0/10 Reg
GITR Nb
GITR Nb + PD-1 mAb
1/10 Reg
5/10 Reg
CT26 colon carcinoma tumours were grown to 90 mm3 in size prior to start of treatment (Day 0)
Reg = regressed below baseline volume
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Product pipeline
Most advanced clinical programmes
PROPRIETARY
Programme (target)
Indication
Key differentiating features
Stage
Caplacizumab (vWF)
Acquired
thrombotic
thrombocytopenic
purpura
First-in-class orphan drug
Inhibits micro-clot formation
More rapidly restores normal platelet counts
Phase III on-going and MAA
filing planned in H1 2017 in EU
for conditional approval
ALX-0171 (RSV)
Respiratory
syncytial virus
infection
Inhaled Nanobody delivered directly to
infection site
First-in-class therapeutic addressing high
unmet medical need
Completed recruitment of firstin-infant Phase I/IIa 35 patient
safety study: results expected
in H1 2016. Expansion study
on-going in infants aged 1-5
months
OPTION TO LICENSE
Programme (target)
Indication
Key differentiating features
Stage
ALX-0061 (IL-6R)
RA, SLE
Best-in-class opportunity
Monovalent interaction; strong affinity
and preferential binding to soluble IL-6R*
3 Phase II’s (RA; SLE) ongoing; RA results expected
in H2 2016
*Gottschalk et al, Frontiers in Immunology, Oct 2015
Partner
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Caplacizumab
Wholly-owned anti-vWF Nanobody
• First-in-class bivalent Nanobody with Orphan Drug
Status and patent protection up to 2035
• Developed for the treatment of acquired thrombotic
thrombocytopenic purpura (aTTP)
• Phase II (75 patients) successfully completed; Phase
III (92 patients) on-going with results expected by
end of 2017
• Planned filing for conditional approval in Europe (H1
2017) and BLA submission in USA (2018)
• Ablynx to lead commercialisation in Europe and USA
• Anticipated first launch in 2018
• Peak sales potential of ~€300M1
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US, EU, Japan, other major markets
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Caplacizumab unique mode of action
Rapidly stops formation of micro-clots
Caplacizumab blocks the platelet – ULvWF interaction
Caplacizumab binds to A1
domain of vWF and thereby
inhibits platelet string formation
ADAMTS13 activity is
impaired
Ultra-Large (UL)
vWF multimers
Platelet string
formation in patients
with aTTP
endothelium
Ex vivo assay for platelet string formation
Fluorescence microscopy image of platelets adhering to UL-vWF in plasma of an aTTP patient
Without treatment, fluorescently labelled platelets adhere to
UL-vWF, observed as string-like structures
ULvWF
Caplacizumab inhibits the formation of platelet strings and potentially
the associated microvascular thrombi in many organs
ULvWF and anti-vWF Nanobody
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Acquired TTP (aTTP)
Life-threatening ultra-rare acute blood clotting disorder
episode
diagnosis
treatment
aTTP patient
Emergency Room
ICU/haematology unit
Sudden onset in otherwise healthy
person (nausea, fever, coma,..)
Initial diagnosis based on
thrombocytopenia & haemolysis
Plasma exchange until normalisation of
platelet count + immune suppressants
• aTTP is caused by impaired activity of ADAMTS13 (<10% of that in normal plasma1)
–
extensive micro-clot formation in small blood vessels throughout the body
–
leads to tissue ischemia and damage to vital organs
• Ultra-rare indication with incidence estimated at up to 11 per million2
• High unmet medical need with no approved therapeutic drug currently available
–
high acute mortality (10-20%)3, vast majority within 2 weeks post diagnosis, and ~ 36% of patients with recurrences 2
–
major morbidities, including brain (e.g. stroke), heart and kidney damage
–
impacts life expectancy and quality of life
1 Scully
et al, BJH 2012; 2 George et al, EJH 2008; 3 Allford et al, BJH 2003, Kremer Hovinga, Blood 2010; Benhamou, Haematologica 2012
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Caplacizumab (anti-vWF) proven clinical benefit
RANDOMISATION
TITAN Phase II study – achieved clinical proof-of-concept
PEX
30 days
30 days
Placebo N=39
Primary endpoint:
time to confirmed normalisation of
platelet count
1:1
PEX
30 days
30 days
Secondary endpoints:
recurrences; PEX parameters; mortality;
major clinical events
Caplacizumab N=36
75 subjects
• Primary endpoint met with high statistical significance (p=0.005)
-
40% reduction in time to platelet normalisation
= faster reversion of thrombocytopenia and reduced use of plasma exchange (PEX)
• 71% fewer patients with recurrences during caplacizumab treatment
-
potential prevention of organ damage
PEX = plasma exchange
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Caplacizumab (anti-vWF)
Hercules Phase III study (Q3 2015 to Q4 2017)
Recurrence
RANDOMISATION
restart daily PEX and open label caplacizumab
30 days
Daily PEX
Placebo* N=46
1:1
92 subjects
TREATMENT PERIOD**
Daily PEX
FOLLOW-UP PERIOD (4 weeks)
30 days
Caplacizumab* N=46
Potential extension of blinded study drug
if recurrence, restart daily PEX and open label caplacizumab
Primary endpoint: time to confirmed normalisation of platelet count
Secondary endpoints: recurrences; mortality rate; severe morbidity; organ damage biomarkers (troponin,
creatinine, LDH); PEX parameters; days in ICU/hospital; AEs; PD; PK; immunogenicity
* iv bolus (10mg) followed by daily sc (10mg) ** incl. corticosteroids at start of daily PEX until underlying disease activity resolved
PEX = plasma exchange
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Caplacizumab positioning
Potential new component in standard of care for aTTP
Future standard of care could be based on three pillars
Treatement duration
Caplacizumab
Daily PEX
Rapid inhibition of platelet
aggregation, micro-clot formation
and small blood vessel occlusion
Removal of ULvWF
& auto-antibodies
Reduction in duration of PEX
treatment
Protection during the acute
phase of the disease
Replenishment of
ADAMTS13
Immunosuppression
Reduces activity
of immune
system to
resolve the
underlying
cause of aTTP
Prevention of organ damage
Reduction in recurrences
Caplacizumab may become the first approved product for the
treatment of aTTP
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Caplacizumab (anti-vWF)
Potentially Ablynx’s first marketed product
Strategic opportunity
• Concentrated patient presentation
• Established KOL network and reference centres
• Modest commercial infrastructure requirements
• Retain direct control over commercialisation in EU5 and USA
• Contract sales, distributors and/or commercial partners in
other territories
Market potential
• No direct competition in aTTP
• Potential key component in future standard of care
• Orphan Drug status with patent protection to 2035
• Peak sales potential in aTTP of ~€300M
Potential launch in 2018
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ALX-0171
Wholly-owned anti-RSV Nanobody
• First-in-class trivalent Nanobody, delivered by inhalation
• Potential breakthrough for the treatment of Respiratory
Syncytial Virus (RSV) infection in infants
• 3 Phase I studies in 106 adults* successfully completed
• First-in-infant Phase I/IIa safety results in H1 2016
• Expansion cohort in younger infants within the Phase I/IIa
safety study on-going during H1 2016
• Phase II dose-ranging study to start in H2 2016
• Opportunity in multi-billion dollar market
* Including 24 adults with hyper-reactive airways
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RSV infection in infants
Leading cause of infant hospitalisation
• 60%-70% of children will have been infected by the age of 1 year1
• >3 million children (<5 years) hospitalised worldwide each year1
• 3,000-8,500 deaths in infants <2 years globally p.a.2
• No specific treatment options currently available
–
Synagis® used as prophylaxis in high-risk pre-term infants only ($900M sales in 2014)
Evolves to
distressing
symptoms
Symptomatic treatment
including inhaled
corticosteroids & bronchodilator
8-20%
hospitalised
• Long-term disease burden
1
–
increased medical cost in the first year following RSV infection3
–
prolonged wheezing and increased risk of asthma development4
Nair et al, Lancet 2010; 2 Byington et al, Pediatrics 2014; 3 Shi et al, J Med Econ, 2011; 4 Sigurs et al, Thorax, 2010; Backman et al, Acta Pediatr, 2014
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ALX-0171 (anti-RSV Nanobody)
Key milestones achieved
• Well tolerated in multiple Phase I clinical studies in adults
• Strong in vitro and in vivo study results
– potent anti-viral effect against recent clinical RSV isolates
– 10,000 fold reduction in viral titres and superiority in vitro compared with palivizumab (Synagis®)
– strong effect following daily inhalation for 3 consecutive days in neonatal lamb model for infant RSV
100
80
Control
60
ALX-0171
40
20
0
0
1
2
3
4
5
6
Mean % lung tissue with
viral lesions
% of lambs with score ≥ 1
Malaise score - Lambs
60
Lung viral lesions - Lambs
(day 6 post infection)
50
40
30
20
10
0
Control
RSV
infection
ALX-0171
Treatment ALX-0171 or
formulation buffer
Compelling pre-clinical proof-of-concept
Vaccines of the World (Oct 2013); RSV Symposium (Nov 2014): presentations on Ablynx website: http://www.ablynx.com/rd-portfolio/clinical-programmes/alx-0171/
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ALX-0171 (anti-RSV Nanobody)
First-in-infant Phase I/IIa safety study – recruitment completed
• Infants aged 3 to <24 months who were hospitalised for RSV infection
• Study centres in Europe and Asia-Pacific region
Open-label lead-in
N=5
Review
by DMC*
Inhaled ALX-0171 once/day

RANDOMISATION
• Adapted infant inhalation device (vibrating mesh)
ALX-0171 N=20
Inhaled ALX-0171 or placebo once/day
2:1
3 consecutive days
Placebo N=10
3 consecutive days
Review
by DMC*

Primary endpoint:
Safety and tolerability of ALX-0171
Results in H1 2016
* Data Monitoring Committee
Secondary endpoints:
Clinical effect (feeding, respiratory rate, wheezing,
coughing, general appearance)
PD (viral load), PK (ALX-0171 systemic
concentration) and immunogenicity
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ALX-0171 (anti-RSV Nanobody)
Next steps in clinical development
Phase I/IIa expansion cohort
• Expansion of Phase I/IIa safety study
Phase II dose-ranging
• ~10-18 hospitalised infants aged 1-5 months
• Generate additional data in younger children
• Clinical centres in EU, Asia-Pacific and USA
• On-going
• ~100 hospitalised infants aged 1-24 months
• Results: H2 2016
• Primary endpoint: nasal viral load
• Secondary endpoints: clinical effect (e.g. feeding
and respiratory parameters) and duration of
hospitalisation
• Start: H2 2016
• Target recruitment completion: end 2017
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ALX-0171 (anti-RSV Nanobody)
Innovative therapeutic approach with significant commercial potential
• Delivered via inhalation directly to the site of infection
Unique product
• Highly potent and selective
• Neutralises broad range of RSV strains
• Compelling proof-of-concept in animal model of infant RSV
• Good safety profile demonstrated
• Data from first-in-infant Phase I/IIa safety study expected in H1 2016
Market potential
• Currently only prophylactic and symptomatic treatment options
• Vaccines and improved antibodies in development for prophylactic
use, but with potential limitations
• Small molecule therapeutics in development but ALX-0171 appears
to be the most advanced programme for the treatment of infant RSV
infections
• ~34M infections/year resulting in ~3-4M hospitalisations/year
globally1; total estimated cost burden of ~$88Bn2
1
Nair et al, Lancet 2010;
2Novavax
November 2015: estimated value of life lost, future health implications and lost earnings (both elderly and infant populations)
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ALX-0061
Anti-IL-6R Nanobody partnered with AbbVie
• Half-life extended Nanobody
• Best-in-class potential for the treatment of autoimmune disorders
• Global licensing agreement with AbbVie
• 2 Phase IIb studies in RA on-going with results
expected in H2 2016
• Phase II study in SLE on-going with results
expected in 2018
• Opportunity in multi-billion dollar markets
RA: rheumatoid arthritis
SLE: systemic lupus erythematosus
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The RA landscape
ALX-0061 (anti-IL-6R) has best-in-class potential
• ACR50 scores from various clinical studies
80
75 75
70
63
60
% of patients
60
50
50
48
47
44 44
45
44
41
40
43
37
41
39
31
30
20
10
0
ALX-00611
Tocilizumab
(Roche)2
Sirukumab
(J&J/GSK)3
Sarilumab
(Sanofi/Regeneron)4
Clazakizumab
(Alder)5
Adalimumab
(AbbVie)6
1 PhIIa
study (iv) (all responders): 1mg/kg Q4W; 3mg/kg Q4W; 6mg/kg Q8W; 2 Data extracted from OPTION (iv) (4 and 8 mg/kg), AMBITION (iv) (8 mg/kg) and ADACTA (iv) (8mg/kg) trials; 3
Phase II results ACR2011/EULAR 2012: 100mg Q2W; 100mg Q4W; pooled data; 4 Phase III TARGET trial (press release Nov 2015); 150 mg Q2W and 200 mg Q2W; 5 Phase IIb trial (ACR
2013), Q4W; 25 mg, 100 mg, 200 mg; 6 2003 FDA briefing document: DE19 confirmatory Phase II/III study: 20mg QW, 40mg Q2W +MTX
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ALX-0061 (anti-IL-6R Nanobody)
Phase IIa RA study demonstrated best-in-class potential
Highly efficacious
•
•
•
•
Convenient dosing
• Wide therapeutic window with potential to dose subcutaneously
once a month
Favourable safety
profile
• No dose dependent increase in frequency or severity of adverse
events
ACR20, ACR50 and ACR70 scores of up to 100%, 75% and 63%
First onset of remission as of week 2
Early signs of effect on bone oedema
No disease progression as determined by MRI
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ALX-0061 (anti-IL-6R Nanobody)
Global licensing option deal with AbbVie
Economics
• $175M upfront at signing in September 2013
• $665M total potential milestones plus double-digit royalties
Ablynx
• Perform and fund Phase I study with subcutaneous formulation
(successfully completed in 2014)
• Perform and fund Phase II studies in RA and SLE (on-going)
AbbVie
• Pays a fee for each indication if they exercise the right to
license ALX-0061 after completion of the Phase II studies
– then responsible for Phase III development, registration and
commercialisation
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ALX-0061 (anti-IL-6R Nanobody)
Key data points in clinical development
2014
2015
2016
2017
2018
Phase I study
subcutaneous (sc) ALX-0061
Phase IIb RA
combination study
Phase IIb RA
monotherapy study
Results announced 23 Oct 2014
ALX-0061 showed >80% bioavailability after sc injection
Top line results
Top line results
potentially continues development in RA
Phase II RA open
label extension
(OLE) study
Phase II SLE study
Top line results
potentially continues
development in SLE
36
Outlook
2016 – an exciting year ahead
Potential key events
Clinical study results
• Results of first-in-infant Phase I/IIa
safety study with ALX-0171 (RSV)
(35 infants aged 3-24 months)
• Results from the expansion cohort
of the first-in-infant Phase I/IIa
safety study with ALX-0171 (RSV)
(infants aged 1-5 months)
Building the pipeline
• Continuation of Phase III study
with caplacizumab
• Continuation of Phase II study in
SLE with ALX-0061 (IL-6R)
• Initiation of Phase II doseranging study with ALX-0171
(RSV)
• Results from the Phase IIb RA
combination therapy study with
ALX-0061 (IL-6R)
• Initiation of up to 4 Phase I
studies in partnered programmes
• Results from the Phase IIb RA
monotherapy study with ALX-0061
(IL-6R)
• Start of IND enabling studies with
immuno-oncology programmes
(partnered with Merck & Co.,
Inc.)
• Results from the Phase Ib study
with ALX-0761 (IL-17A/F) in
psoriasis patients (licensed to
Merck KGaA)
• Initiation and continuation of ~40
internal and partnered discovery
and pre-clinical programmes
Commercial
• Opt-in decision by AbbVie for
global exclusive license of
ALX-0061 in RA
• Continuing preparations for
commercialisation of
caplacizumab
• Expand existing collaborations
and/or initiate new
partnerships
• Payment to Ablynx of multimillions in up-fronts, FTE
payments and milestones
38
Ablynx
Investment thesis
Unique and powerful validated technology platform which has
been used to generate potential medicines in a wide range of
therapeutic areas
Very well funded hybrid business model which supports ~40
programmes, some together with pharmaceutical partners,
offering a balanced range of risk and reward
A number of short and medium term pre-clinical, clinical and
commercial catalysts
39
Questions
CONTACT DETAILS
Investor
Relations
+32 9 262 00 00
investors@
ablynx.com
www.ablynx.com