Fresh from announcing positive Phase III results, Ablynx has wasted no time in filing a $175M (€148M) IPO to continue developing its nanobodies technology.
On Monday, the Belgian biotech shared the news that its nanobody, caplacizumab, received encouraging results for the treatment of acquired thrombotic thrombocytopenic purpura (aTTP), a life-threatening blood disorder. This news boosted the company’s price on the Euronext Brussels market, with a 25% rise seen. It appears that this gave Ablynx the green light to invite investment with the announcement of its $175M (€148M) IPO on the US market, to push through the development of its pipeline.
Caplacizumab, an anti-vWF nanobody that blocks ultra-large vWF from interacting with platelets to protect the individual from platelet aggregation and clotting, will be the main beneficiary of the IPO. Potential investors will be keeping an eye on how the Phase III success translates to a clinical risk-benefit ratio, with caplacizumab associated with side effects, for example, increased bleeding.
Everything you should know about Ablynx’s nanobodies.
The company also hopes to progress another candidate, ALX-0171, through a Phase IIb trial. The candidate treats respiratory syncytial virus (RSV), which causes over 3 million infant hospitalizations and up to 200,000 deaths, each year. There is currently no drug specifically approved for the treatment of RSV infections, but Ablynx has developed an anti-RSV antibody that can be delivered directly into the lungs by nebulization.
Ablynx is riding the crest of a wave right now, with the momentum that it gained on Monday giving the company the boost it needed to launch an IPO today. With exciting companies such as Complix and its Alphabodies technology breathing down Ablynx’s neck, it is wise to put itself well ahead of the chasing pack while it can.
Images – Ersler Dmitry / shutterstock.com; Ablynx
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