ABLYNX RESPONDS TO REQUEST FOR ARBITRATION FROM DOMANTIS

Ablynx [Euronext Brussels: ABLX], a pioneer in the discovery and development of Nanobodies®, a novel class of antibody-derived therapeutic proteins, announced today that it has been informed that Domantis Limited has filed a Request for Arbitration against Ablynx claiming a dispute exists in relation to the interpretation of certain provisions of a settlement agreement which Ablynx and Domantis entered into on 3 June 2005. In its arbitration claim, Domantis asserts that certain of Ablynx's activities are not permitted by the terms of the settlement agreement. Domantis claims that it will seek, amongst other things, damages and an order to prevent Ablynx from engaging in these activities in the future.

Ablynx denies these claims in their entirety and will respond to the filing by seeking an affirmative declaration that Ablynx is fully entitled to pursue its current activities and that it has not defaulted on any material obligation under the settlement agreement. Ablynx will also assert various counterclaims against Domantis in connection with its conduct and will pursue all other remedies available to it under the law.

Ablynx disclosed in its prospectus dated 12th October 2007 that GlaxoSmithKline (GSK) (who had acquired Domantis) had notified Ablynx that it believed that a dispute existed in relation to the interpretation of certain provisions of the settlement agreement between Ablynx and Domantis. This settlement agreement relates to the so-called Winter-II patent which expires in Europe in 2009.

Edwin Moses, CEO and Chairman of Ablynx, commented: "We believe that the claims made by Domantis are without merit and vigorously disagree with Domantis' interpretation of this matter. We will defend ourselves against these allegations and seek every remedy available under the law. We are confident that our activities are fully compatible with the settlement agreement and that the allegations made will not jeopardise the future of our research, development and commercialisation activities."

For more information, please contact:

College Hill Life Sciences - for UK/International media enquiries:
Sue Charles, Justine Lamond, Holly Griffiths
t:   +44 (0)20 7457 2020
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

Complete version of the press release in English: http://hugin.info/137912/R/1188215/238559.pdf

Complete versie van het persbericht in het Nederlands: http://hugin.info/137912/R/1188215/238564.pdf

Copyright © Hugin AS 2008. All rights reserved.

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