REGULATED INFORMATION - INSIDE INFORMATION
GHENT, Belgium,
16 February 2018 - Ablynx [Euronext Brussels and Nasdaq: ABLX]
today announced that Sanofi has exercised its option to license two
additional target combinations as part of the research
collaboration signed in July 2017, focussed on developing and
commercialising Nanobody®-based therapeutics for the treatment of
various immune-mediated inflammatory diseases.
Under the terms of the agreement,
Sanofi gains exclusive global rights to two additional
multi-specific Nanobodies against selected targets and in return
will pay Ablynx exercise fees totalling €13 million plus additional
research funding. Multi-specific Nanobodies provide the ability to
address different pathway or disease targets with one therapeutic
molecule. Ablynx has already received an upfront payment totalling
€23 million, together with research funding under this
collaboration.
Sanofi will be responsible for the
development, manufacturing and commercialisation of any products
resulting from this agreement comprising up to eight programmes.
Ablynx will be eligible to receive development, regulatory and
commercial milestone payments of up to €2.4 billion plus tiered
royalties up to low double digits on the net sales of any products
originating from the collaboration.
Dr Edwin Moses,
CEO of Ablynx, commented:
"Today's announcement further
validates the strength of our Nanobody platform and underscores our
excellent strategic collaborations with major pharmaceutical
companies. The decision to select two additional Nanobody target
combinations following the initial selection of three target
combinations demonstrates the strong commitment of both parties to
developing novel therapeutic options for patients suffering from a
range of inflammatory diseases."
Frank Nestle, MD,
Sanofi's Global Head of Immunology Therapeutic Research Area and
Chief Scientific Officer, North America, commented:
"We believe it is important to
address multiple therapeutic targets for effective control of
autoimmune and inflammatory diseases. Combined with Sanofi's
internal research capabilities, Ablynx's innovative biologics
platform accelerates our ambition to be a leader in multi-targeted
therapies. We have therefore decided to pursue an expanded number
of Nanobody product candidates in Immunology, with the goal of
addressing significant medical needs across a whole range of
immune-mediated conditions."
On 29th January
2018, Ablynx announced an offer by Sanofi to acquire all of its
outstanding ordinary shares (including shares represented by
American Depository Shares, warrants and convertible bonds) at a
price of €45 per share, which represents an aggregate equity value
of approximately €3.9 billion. This proposed transaction was
unanimously approved by both the Sanofi and Ablynx Board of
Directors. The transaction is expected to be completed by the
end of the second quarter of 2018. Sanofi will publish an offer
document in which it will set out the full details of its tender
offer, and the Board of Directors of Ablynx will publish a response
memorandum ('memorie van antwoord'), in which
it will set out its position on the tender offer.
About
Ablynx
Ablynx is a biopharmaceutical
company engaged in the development of Nanobodies, proprietary
therapeutic proteins based on single-domain antibody fragments,
which combine the advantages of conventional antibody drugs with
some of the features of small-molecule drugs. Ablynx is dedicated
to creating new medicines which will make a real difference to
society. Today, the Company has more than 45 proprietary and
partnered programmes in development in various therapeutic areas
including inflammation, haematology, immuno-oncology, oncology and
respiratory disease. The Company has collaborations with multiple
pharmaceutical companies including AbbVie; Boehringer Ingelheim;
Eddingpharm; Merck & Co., Inc., Kenilworth, New Jersey, USA;
Merck KGaA; Novartis; Novo Nordisk; Sanofi and Taisho
Pharmaceuticals. The Company is headquartered in Ghent, Belgium.
More information can be found on www.ablynx.com.
Voor bijkomende
informatie, gelieve contact op te nemen met
Ablynx:
Dr Edwin Moses
Gedelegeerd Bestuurder
t: +32 (0)9 262 00 07
m: +32 (0)473 39 50 68
e: edwin.moses@ablynx.com
Lies Vanneste
Director Investor Relations
t: +32 (0)9 262 01 37
m: +32 (0)498 05 35 79
e: lies.vanneste@ablynx.com
Volg ons op Twitter @AblynxABLX
Ablynx's media
relaties:
Consilium Strategic Communications
Mary-Jane Elliott, Philippa Gardner, Sukaina Virji
t: +44 (0)20 3709 5700
e: ablynx@consilium-comms.com
Joele Frank,
Wilkinson Brimmer Katcher
Dan Katcher or Joseph Sala
t: +1 212-355-4449
Disclaimer
Certain statements, beliefs and opinions in this press release 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
or implied by the forward-looking statements. These risks,
uncertainties and assumptions could 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 press
release regarding past trends or activities should not be taken as
a representation that such trends or activities will continue in
the future. As a result, the Company expressly disclaims any
obligation or undertaking to release any update or revisions to any
forward-looking statements in this press release 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 press release 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
press release.
Additional
Information for US Investors
The tender offer for the outstanding ordinary shares ("Shares"),
American Depositary Shares issued by J.P. Morgan Chase Bank, N.A.,
acting as depositary ("ADSs"), warrants ("Warrants") and
convertible bonds of Ablynx ("Bonds" and, together with the Shares,
ADSs and Warrants, the "Securities") has not yet commenced. This
communication is for informational purposes only and is neither a
recommendation, an offer to purchase nor a solicitation of an offer
to sell any Securities of Ablynx.
At the time the tender offer is
commenced, Sanofi will file, or cause to be filed, a tender offer
statement on Schedule TO with the SEC and thereafter, Ablynx will
file a solicitation/recommendation statement on Schedule 14D-9.
Holders of Securities are urged to carefully review the documents
that will be filed by Sanofi and Ablynx with the SEC because these
documents will contain important information, including the terms
and conditions of the tender offer.
The offer to purchase, the related
letter of transmittal and certain other tender offer documents, as
well as the solicitation/recommendation statement, are available to
all holders of Securities of Ablynx at no expense to them. These
documents are available for free at the SEC's website at
www.sec.gov. Additional copies may be obtained for free by
contacting Sanofi at ir@Sanofi.com or on Sanofi's website at
https://en.Sanofi.com/investors. You should read the filings made
by Sanofi and Ablynx with the SEC carefully before making a
decision concerning the U.S. Offer.
pdf version of the press
release
This
announcement is distributed by Nasdaq Corporate Solutions on behalf
of Nasdaq Corporate Solutions clients.
The issuer of this announcement warrants that they are solely
responsible for the content, accuracy and originality of the
information contained therein.
Source: Ablynx via Globenewswire
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