Rare Daily Staff
Belgium-based Ablynx, a late-stage biopharmaceutical developing Nanobodies, a new class of therapies that combine benefits of antibody and small molecule therapies, completed an upsized $200 million initial public offering in the United States.
The company sold a little more than 11.4 million American Depositary Shares at a price of $17.50 per ADS before underwriting discounts. The company had initially expected to raise $150 million through the offering. The underwriters have a 30-day option to purchase up to purchase up to an additional 1.7 million ADSs.
Ablynx ADSs ended their first day of trading on Nasdaq at $22.51, up $5.01 or 28.6 percent. Each ADS represents the right to receive one ordinary share of Ablynx. The ordinary shares are currently listed on Euronext Brussels under the symbol “ABLX.BB” The ADSs trade on the Nadaq Global Select Market under the symbol “ABLX.”
Earlier this month Ablynx announced the establishment of a subsidiary in the United States in anticipation of the commercial rollout of caplacizumab in North America. Caplacizumab is the company’s wholly-owned anti-von Willebrand factor Nanobody being developed for the treatment of acquired thrombotic thrombocytopenic purpura aTTP, a rare, acute, life-threatening, autoimmune blood clotting disorder.
The Company has more than 45 proprietary and partnered programs in development in various therapeutic areas including inflammation, hematology, immuno-oncology, oncology and respiratory disease.
Ablynx has collaborations with multiple pharmaceutical companies including AbbVie, Boehringer Ingelheim, Eddingpharm, Merck, Merck KGaA, Novartis, Novo Nordisk, Sanofi, and Taisho Pharmaceuticals.
October 25, 2017