Ablynx has raised 50 million euros which may allow the Belgian firm to commercialise its own cardiovascular products one day.

The cash has been raised through a secondary public offering with about 6.7 million shares being sold at 7.50 euros each. Ablynx added that a further 400,000 existing shares are to be sold, raising 3 million euros.
Chief executive Edwin Moses said the firm was pleased to attract “a wide range of new specialist and generalist investors from Europe and the USA” as well as receiving significant support from existing backers. He went to say that the funding is “a reflection of the strength of our pipeline and our well-validated nanobody (antibody-derived therapeutic proteins) platform”.

Dr Moses added that “we will now have increased flexibility to advance programmes through to clinical proof-of-concept” and “potentially commercialise our orphan drug programme, ALX- 0681, ourselves and/or co-invest in development alongside our pharmaceutical partners, in return for a greater share of the value we create”.

ALX-0681 is an early-stage anti-thrombotic nanobody and Ablynx currently has pacts in place with Boehringer Ingelheim, Merck Serono, Novartis and Pfizer.