ABLYNX RECEIVES ANOTHER MILESTONE AS BOEHRINGER INGELHEIM SELECTS NANOBODY CANDIDATE FOR PRE-CLINICAL DEVELOPMENT

GHENT, Belgium, 1 February 2012 - Ablynx [Euronext Brussels: ABLX] today
announced that Boehringer Ingelheim has selected, as part of their strategic
alliance, a second Nanobody(®) candidate for pre-clinical development, which
triggered a EUR5 million milestone payment to Ablynx.

The Nanobody development candidate is designed to interfere with the function of
two distinct proteins that are thought to play a major role in human cancers.

In September 2007, Ablynx and Boehringer Ingelheim entered into a strategic
alliance on the discovery, development and commercialisation of Nanobody
therapeutics across a range of diseases, including oncology, immunology,
respiratory and vascular diseases. The agreement allows for potential milestone
payments of up to EUR125 million plus royalties to Ablynx for each Nanobody which
reaches market. Boehringer Ingelheim is exclusively responsible for the
development, manufacturing and commercialisation of any products resulting from
the collaboration. Ablynx retains certain co-promotion rights in Europe. To
date, Ablynx has earned >EUR57 million in cash from this strategic alliance.

"We are very pleased with the progress made in our collaboration with Boehringer
Ingelheim. They now have three Nanobody candidates in pre-clinical development
including a Nanobody relevant in Alzheimer´s disease, and we anticipate
additional Nanobodies will be advanced into formal development during the next
years, " said Dr. Edwin Moses, CEO and Chairman at Ablynx.

About Ablynx

Ablynx (Euronext: ABLX) is a biopharmaceutical company engaged in the discovery
and development of Nanobodies(®), a novel class of therapeutic proteins based on
single-domain antibody fragments, for a range of serious and life-threatening
human diseases, including inflammation, haematology, oncology and pulmonary
disease. Today, the Company has over 25 programmes in the pipeline and seven
Nanobodies in clinical development. Ablynx has ongoing research collaborations
and significant partnerships with major pharmaceutical companies, including
Boehringer Ingelheim, Merck Serono, Novartis, and has had a collaboration with
Pfizer. The Company is headquartered in Ghent, Belgium and currently employs
over 290 people. More information can be found on www.ablynx.com.

For more information, please contact:

College Hill Life Sciences - for international press:

Sue Charles / Melanie Toyne Sewell / Christelle Kerouedan
t:   [phone]
e:  [e-mail]

Ablynx:

Dr Edwin Moses
Chairman and CEO
t:   [phone]
m: [phone] /
     [phone]
e: [e-mail]

Marieke Vermeersch
Investor Relations Manager
t:   [phone]
m: [phone]
e: [e-mail]

Complete version of the press release:
http://hugin.info/137912/R/1581931/494165.pdf

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Source: Ablynx via Thomson Reuters ONE

[HUG#1581931]

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