Belgium Biotech Ablynx Files For a $150 Million IPO

Ablynx, which is developing nanobodies to treat a wide range of diseases, filed on Monday with the SEC to raise up to $150 million in an initial public offering. The company is currently listed on the Euronext Brussels under the symbol “ABLX.”

The pre-revenue company’s lead product candidate is caplacizumab for the treatment of aTTP, which is a rare, potentially fatal, blood clotting disorder, with an aggregate of 7,500 episodes estimated to occur each year in North America, Europe and Japan. The company recently announced positive top line results from a 145 patient Phase III worldwide clinical trial and expects these data will drive the registration process for caplacizumab in both the US and Europe.

The Zwijnaarde, Belgium-based company was founded in 2001 and booked n/a in sales for the 12 months ended June 30, 2017. It plans to list on the Nasdaq under the symbol ABLX. Ablynx filed confidentially on June 19, 2017. BofA Merrill Lynch, J.P. Morgan and Jefferies are the joint bookrunners on the deal. No pricing terms were disclosed.