Fresh money for llama biotech

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Ablynx and Argen-X, two Ghent based biopharmaceutical companies, who develop drugs based on llama antibodies, easily obtained new capital from investors.

ArgenX, active in the field of cancer immunotherapy and autoimmune diseases, has attracted additional funds of 30 million euros, through the placement of 2,703 million new shares with major US investors.

Ablynx aims to collect 60 million euros from institutional investors by placing up to 5.5 million new shares (less than 10% of the outstanding shares). Today, Ablynx has more than 40 program in various therapeutic areas such as inflammation, haematology, immuno-oncology, oncology and respiratory disease.

The funds will be used to perform clinical trials with the new drug candidates.