Ablynx announced it has initiated a phase I trial with ALX-0651, an anti-CXCR4 Nanobody, for use in stem cell mobilisation. ALX-0651 is the second Nanobody that is entering clinical development this year, bringing the total number to seven. ALX-0651 is the first Nanobody in clinical trials that is targeting a GPCR, which have proved difficult to address with conventional antibodies.
CXCR4 is of importance in hematopoietic stem cell trafficking. Blocking CXCR4 releases the hematopoietic stem cells from the bone marrow, allowing them to be mobilised, collected and used in subsequent transplantation.
The outcome of the first clinical study is expected during the course of 2012
We welcome the announcement and stick to our BUY rating and € 8.5 target price.