Ablynx to raise EUR 20 million

Ablynx N.V. (Euronext:ABLX) proposed to raise about EUR 20 million ($26.5 million) through the sale of up to 4.4 million shares in a private placement to institutional investors. KBC; Bryan, Garnier; and Nomura Code are joint bookrunners. Ablynx said a portion of the funds will be used to support development of the company's ALX-0061, a nanobody against IL-6 receptor ( CD126) that has completed a Phase I/II trial to treat moderate to severe active rheumatoid arthritis (RA) (see BioCentury Extra, Feb. 13). ...