Ablynx (EBR:ABLX) ABLYNX REACHES MILESTONE IN TNF-alpha NANOBODY® COLLABORATION AS WYETH PHARMACEUTICALS INITIATES PHASE I

Ablynx (EBR:ABLX) Ghent, Belgium, 10 December 2008 - Ablynx [Euronext Brussels: ABLX], a pioneer in the discovery and development of Nanobodies®, a novel class of antibody-derived therapeutic proteins, today announced that it has reached a milestone under the terms of its collaboration with Wyeth Pharmaceuticals, a division of Wyeth. A milestone payment of $3 million has been triggered by the initiation by Wyeth of a first Phase I study in healthy volunteers for a Nanobody® targeting tumour necrosis factor alpha (TNF-alpha).

Ablynx entered into an exclusive research collaboration and license agreement with Wyeth Pharmaceuticals in November 2006, a deal potentially worth $212.5 million for the successful development and commercialization of multiple products. In addition Ablynx is eligible to receive royalties on product sales. Wyeth has exclusive rights to develop and commercialize anti-TNF-alpha Nanobodies® developed under the collaboration. TNF-alpha is a key drug target in combating inflammation related disorders such as rheumatoid arthritis.

Dr Edwin Moses, CEO and Chairman of Ablynx commented: "We are very pleased that Wyeth has entered the clinic with a Nanobody®. This advance underscores the progress we have been making in our TNF-alpha partnership with Wyeth Pharmaceuticals. Wyeth has significant biologics expertise and a long history of biopharmaceutical drug development and proven success in the TNF-alpha area."

Separately from the Wyeth programme, Ablynx has two Nanobodies® in clinical development, ALX-0081 currently in a Phase Ib patient study and ALX-0681 which entered a Phase I healthy volunteer study earlier this week. Both these programmes target von Willebrand Factor. "We are very pleased to see a third Nanobody® in clinical development and we look forward to announcing the results of our ALX-0081 Phase Ib study in patients early in the New Year," added Dr Moses.

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For more information, please contact:

College Hill Life Sciences - for UK/International media enquiries: Sue Charles, Justine Lamond, Dr John McIntyre t: +44 (0)20 7866 7857 f: +44 (0)20 7866 7900 e: ablynx@collegehill.com

Ablynx: Dr. Edwin Moses Chairman and CEO t: +32 (0)9 262 00 07 m: +44 (0)7771 954 193 / +32 (0)473 39 50 68 e: edwin.moses@ablynx.com

Eva-Lotta Allan Chief Business Officer t: +32 (0)9 262 00 75 m: +32 (0)475 78 36 21 / +44 (0)7990 570 900 e: eva-lotta.allan@ablynx.com

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Ablynx

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