Ablynx grabs cheap €100m top-up from bond investors before window shuts
This article was originally published in Scrip
In the first significant return to the European bond market since Norwegian radiopharmaceutical specialist Algeta raised $120m back in September 2013, Belgian nanobody firm, Ablynx, has raised €100m ($110m) through a private placement of Senior Unsecured Convertible Bonds. According to CEO Edwin Moses, this provides Ablynx with "a lot more choice of how we spend our money, and options in product development." The bond route allowed Ablynx to raise its money rapidly and relatively cheaply.