Ablynx

Ablynx is a Belgian biotechnology company whose business was built around nanobodies, small antibody-derived binding proteins developed for use in medicines. The company was established in November 2001 as a spin-off of the Vlaams Instituut voor Biotechnologie (VIB) and the Vrije Universiteit Brussel (VUB), with €2 million in seed financing from Gimv. It developed its technology and drug pipeline from Science Park Zwijnaarde in Ghent. The company’s scientific proposition was that nanobodies could provide useful characteristics for drug development, including compact size, structural stability and the ability to bind targets that can be difficult to address with conventional antibody formats. Ablynx used the platform for discovery and clinical development across several therapeutic areas, with particular visibility in hematology and immune-mediated disease. Its strategy was based on combining a proprietary biologics platform with partnerships, licensing arrangements and internally advanced clinical candidates. Ablynx’s most prominent development was caplacizumab, a nanobody-based treatment for acquired thrombotic thrombocytopenic purpura, a rare and potentially life-threatening blood disorder. The program became the company’s leading clinical and commercial asset and was subsequently marketed by Sanofi under the Cablivi name. Caplacizumab’s development gave Ablynx a tangible product opportunity beyond platform licensing and made the company an acquisition target in the biopharmaceutical sector. In January 2018, Novo Nordisk made a publicized offer to acquire Ablynx for approximately $3.1 billion, after an earlier approach in December 2017. Ablynx’s board rejected the proposal, stating that it undervalued the company. Sanofi then agreed to acquire Ablynx for approximately $4.8 billion. Sanofi completed the transaction in June 2018, bringing Ablynx’s nanobody platform, development programs and commercial assets into its pharmaceutical organization. Following the acquisition, Ablynx ceased to operate as an independent listed company. It is described as a Sanofi subsidiary involved in nanobody discovery and development rather than as a standalone public biotechnology issuer. The Ablynx name remains associated with the nanobody platform and with the origins of caplacizumab, while subsequent product commercialization and corporate control sit within Sanofi.

Ablynx was established in November 2001 as a Belgian biotechnology spin-off of the Vlaams Instituut voor Biotechnologie and the Vrije Universiteit Brussel. The company received €2 million in seed financing from Gimv and based its research strategy on nanobodies, compact antibody-derived proteins intended to combine selected antibody-like binding properties with potentially useful manufacturing and tissue-penetration characteristics. From its base at Science Park Zwijnaarde in Ghent, Ablynx developed a platform-oriented biopharmaceutical model. Its work covered the discovery and development of nanobody candidates, with programs spanning hematology, immunology and other disease areas. The company’s business combined proprietary research with clinical development and collaboration opportunities. Rather than relying solely on a single therapeutic product, Ablynx sought to demonstrate that its nanobody platform could generate a broader pipeline of biologic medicines. The company’s most important development was caplacizumab, a nanobody-based therapy for acquired thrombotic thrombocytopenic purpura. The program ultimately became the basis for Cablivi, which was commercialized by Sanofi after the acquisition. Caplacizumab represented the clearest product-level validation of Ablynx’s technology and was a major factor in the company’s strategic value to larger pharmaceutical groups. Ablynx became the subject of acquisition interest in late 2017 and early 2018. Novo Nordisk made an initial approach in December 2017 and subsequently offered approximately $3.1 billion in January 2018. The Ablynx board rejected the offer on the grounds that it did not adequately value the company. Sanofi then pursued the company and agreed to a transaction valued at approximately $4.8 billion. Sanofi completed the acquisition in June 2018. The transaction transferred Ablynx’s nanobody platform, caplacizumab-related assets and other development programs into Sanofi. Ablynx consequently stopped operating as an independent listed biotechnology company. It is now associated with Sanofi as a subsidiary and with the continuing development and commercial history of nanobody medicines.

1. 2018Ablynx rejects Novo Nordisk’s offer

   Ablynx’s board rejects Novo Nordisk’s approximately $3.1 billion proposal, arguing that it undervalues the business.

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2. 2018Sanofi agrees to acquire Ablynx

   Sanofi agrees to acquire Ablynx for approximately $4.8 billion, gaining its nanobody platform and drug-development portfolio.

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3. 2018Sanofi completes the acquisition

   The transaction is completed in June, and Ablynx ceases to operate as an independent listed company.

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4. 2017Novo Nordisk makes an initial approach

   Novo Nordisk makes an unreported initial approach to Ablynx in December as it considers acquiring the nanobody-focused biotechnology company.

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5. 2001Ablynx is established as a biotechnology spin-off

   Ablynx is founded in Belgium as a spin-off of VIB and the Vrije Universiteit Brussel, with seed financing from Gimv.

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A platform-led biopharmaceutical developer specializing in nanobody-based medicines, with a focus on translating compact antibody fragments into therapeutic products.

• CaplacizumabNanobody-based medicine2018

  Caplacizumab is the leading therapeutic program associated with Ablynx. It is a nanobody-based medicine developed for acquired thrombotic thrombocytopenic purpura, a rare blood disorder. The program became Ablynx’s most prominent clinical and commercial asset and was later commercialized by Sanofi under the Cablivi brand following the acquisition.

• Nanobody discovery platformBiotechnology platform

  Ablynx’s core platform centered on nanobodies, small antibody-derived binding proteins used to discover and develop biologic drug candidates. The platform supported research programs in hematology, immunology and other therapeutic fields and was the principal strategic asset transferred to Sanofi in the 2018 acquisition.

• 2018Ablynx accepts Sanofi’s acquisitionM&A

  Ablynx had rejected Novo Nordisk’s earlier proposal as undervaluing the company. Sanofi pursued the business to obtain its nanobody platform, caplacizumab-related assets and broader development portfolio.

  What changed. Ablynx agreed to be acquired by Sanofi for approximately $4.8 billion, with the transaction completed in June 2018.

  Aftermath. Ablynx stopped operating as an independent listed company, and its platform and drug assets became part of Sanofi.

  Acquisition value. $4.8 billion (2018 acquisition announcement and completion)

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• 2018Novo Nordisk makes an acquisition offer for Ablynx

  Novo Nordisk offered approximately $3.1 billion for Ablynx after making an earlier approach in December 2017. Ablynx’s board rejected the proposal, saying that it undervalued the business.

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• 2018Sanofi agrees to acquire Ablynx

  Sanofi agreed to acquire Ablynx for approximately $4.8 billion, seeking access to the company’s nanobody platform and drug-development portfolio.

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• 2018Sanofi completes acquisition of Ablynx

  Sanofi completed the acquisition, ending Ablynx’s existence as an independent listed company and integrating its platform and assets into Sanofi.

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1. Ablynx
2. Sanofi completes acquisition of Ablynx