Ablynx
Country: Belgium
Region: Vlaams Gewest
Investors: Abingworth, Alta Partners, GIMV, Gilde, Sofinnova
When Ablynx was founded in 2001, it was a university spin-out with innovative biotechnology that the entrepreneurial founders knew had the potential to revolutionise the way new therapies are developed for certain diseases.
Originally jointly funded by VIB (a Belgian research institute) and VC firm GIMV, the company raised €70m over the next six years from Sofinnova, Gilde, Alta Partners, Abingworth and KBC Private Equity. With their support, Ablynx launched an IPO on Euronext Brussels in 2007, followed by a $230m IPO in the US in 2017. During this time, the company secured partnerships with some of the world’s leading biotechnology companies and in 2018 Sanofi completed its acquisition of Ablynx for over €3.9bn.
€3bn
company market cap in 2018
450
employees from 0 in 2001
Bringing together a broad range of European and US VCs early in the development of the company provided an excellent international networking base that helped with financing, pharmaceutical collaborations, recruitment, access to technical experts and vital contact introductions – all key to the growth and development of the business.
What did the business need?
Capital to fund implementation of research ideas into a business
Expertise in creating a business from an idea
Contacts to build research collaborations
How did private equity backing create lasting value?
Assembled top management team
Provided funding to bring first drug candidate to clinic
Assisted with identifying and securing corporate partnerships with several major pharma companies
Assisted with successful public listings on Euronext Brussels
What outcomes did private equity investment achieve?
Grew university spin-out from concept to a publicly-listed company
Created hundreds of jobs
Helped finance a pipeline of 45 R&D programmes
Supported the advancement of 8 product candidates, which are now at clinical development stage
Secured a high valuation for the business at sale, increasing from €7 per share at 2007 IPO to €45 per share on Sanofi’s acquisition
Investors
