ABLYNX AND PROCTER & GAMBLE EXTEND NANOBODY™ DRUG DISCOVERY AND DEVELOPMENT AGREEMENT TO METABOLIC TARGETS

Ablynx, the pioneer in the discovery and development of Nanobodies™, has announced that its drug discovery and development alliance with Procter & Gamble Pharmaceuticals, Inc. (P&GP), a subsidiary of The Procter & Gamble Company (NYSE: PG) has been extended to include metabolic disease targets.

Through this agreement, Ablynx will use its unique and patent protected Nanobody™ platform to discover and develop drug candidates against targets specified by P&GP.

Under terms of the agreement, P&GP provides Ablynx with research and development funding, milestone payments, and royalties upon commercialization. Ablynx is responsible for discovering Nanobodies™ that meet an agreed product profile. P&GP assumes responsibility for the pre-clinical and clinical development of lead Nanobodies™, as well as the commercialization of any resulting drug products. The financial terms of the agreement are not disclosed.

Commenting on the partnership extension, Dr. Edwin Moses, Chief Executive Officer of Ablynx said: "We look forward to the opportunity of working in the area of metabolic disease with Procter & Gamble Pharmaceuticals. The extension of our collaboration with them underlines their confidence in both the Nanobody™ technology and in our ability to deliver valuable drug candidates”.

"We are delighted to further our relationship with Ablynx. The existing collaboration has been positive and very productive. With this extension, we anticipate the potential of Nanobodies™ to develop uniquely effective and efficient therapeutics for a range of applications, including metabolic disease," said Dr. Douglas W. Axelrod, R&D Vice President, Discovery and Development Technologies, Procter & Gamble Pharmaceuticals.