Belgian and US investors come together in €31.5mm PIPE for Ablynx

Ablynx NV, creator of the Nanobodies single-domain antibody fragment platform, has raised €31.5mm ($41.2mm) from Belgian and US institutional and qualified investors, who bought 4.4mm shares at €7.20, a 7% discount. (Pre-IPO shareholders and warrant holders additionally sold 1.9mm shares at the same price.) The biotech more than beat its targeted gross proceeds of €20mm. Ablynx’s board terminated existing stockholders’ preferential subscription rights due to this transaction. The placement agents were KBC Securities, Bryan, Garnier & Co., and Nomura Code Securities. The new funding will allow the company to review future plans for lead rheumatoid arthritis candidate ALX0061 (positive safety and efficacy Phase II results were just announced); evaluate dealmaking structures for caplacizumab (in Phase II for thrombotic thrombocytopenic purpura) and ALX0171 (Phase I for respiratory syncytial virus); and work on preclinical studies for wholly or co-owned projects.