BRUSSELS (Reuters) - Belgian drug developer Ablynx has successfully completed early-stage tests on healthy volunteers for its inhaled treatment for RSV, a virus which is the most common cause of bronchiolitis in babies.
Ablynx said on Tuesday the phase I tests showed ALX-0171 was the first antibody that can be administered directly into the lung using a nebuliser inhalation device, as it uses the group's proprietary ultra-small nanobody technology, derived from llamas.
The result pushed Ablynx shares up as much as 5 percent to a high of 3.95 euros, to make the company the sharpest climber in Brussels.
"This is the first clinical confirmation of a key differentiating characteristic of the platform," KBC said in a note to clients as it increased its recommendation to "Buy" from "Accumulate" and raised its price target to 7 euros from 6 euros.
Ablynx was due to release Phase II results for its rheumatoid arthritis drug, ALX-0061, next month.
(ben.deighton@thomsonreuters.com; +32 2287 6811; Reuters Messaging: rm://ben.deighton.thomsonreuters.com@reuters.net)
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