argenx to receive third preclinical milestone payment from collaboration with LEO Pharma - Milestone associated with CTA app...
April 12 2018 - 1:01AM
Breda, the Netherlands/Ghent, Belgium -
argenx (Euronext & Nasdaq: ARGX) a clinical-stage biotechnology
company developing a deep pipeline of differentiated antibody-based
therapies for the treatment of severe autoimmune diseases and
cancer, today announced the achievement of its third preclinical
milestone from its collaboration with LEO Pharma, following the
approval of the clinical trial application (CTA) filing for
ARGX-112.
"This milestone showcases the productivity of
our collaboration with LEO Pharma, marking the final step before
ARGX-112 may enter clinical development. It triggers the third of
three success-based preclinical milestone payments under this
collaboration. We are convinced of the potential of ARGX-112 to
address unmet needs in inflammatory skin diseases and are excited
to see the program approved for clinical development," commented
Tim Van Hauwermeiren, CEO at argenx.
In May 2015, argenx entered into a research
collaboration and exclusive license option agreement with LEO
Pharma to develop and commercialize ARGX-112, a novel antibody
discovered by argenx using its SIMPLE Antibody(TM) technology.
During the collaboration term, argenx successfully concluded all
ARGX-112 research and development activities required for the first
filing by LEO Pharma of a CTA. As part of the agreement, argenx has
granted LEO Pharma an exclusive option to obtain a worldwide,
exclusive license to the ARGX-112 program, to develop and
commercialize licensed products for inflammatory skin disorders. In
addition to the upfront and preclinical milestone payments, argenx
may receive further regulatory and clinical milestone payments up
to approximately €100mm as well as royalties on net sales of any
product.
About argenxargenx a clinical-stage
biotechnology company developing a deep pipeline of differentiated
antibody-based therapies for the treatment of severe auto-immune
diseases and cancer. We are focused on developing product
candidates with the potential to be either first-in-class against
novel targets or best-in-class against known, but complex, targets
in order to treat diseases with a significant unmet medical need.
Our ability to execute on this focus is enabled by our suite of
differentiated technologies. Our SIMPLE AntibodyTM Platform, based
on the powerful llama immune system, allows us to exploit novel and
complex targets, and our three antibody engineering technologies
are designed to enable us to expand the therapeutic index of our
product candidates. www.argenx.com
About LEO Pharma A/SLEO Pharma helps
people achieve healthy skin. By offering care solutions to patients
in more than 100 countries globally, LEO Pharma supports people in
managing their skin conditions. Founded in 1908 and owned by the
LEO Foundation, the healthcare company has devoted decades of
research and development to delivering products and solutions to
people with skin conditions. LEO Pharma is headquartered in Denmark
and employs around 5,200 people worldwide.www.leo-pharma.com
For further information, please contact:
Joke Comijn, Corporate Communications and IR Manager +32 (0)477
77 29 44+32 (0)9 310 34 19info@argenx.com
Beth DelGiacco (US IR)Stern Investor Relations+1 212 362
1200beth@sternir.com
Forward-looking Statements
The contents of this announcement include
statements that are, or may be deemed to be, "forward-looking
statements." These forward-looking statements can be identified by
the use of forward-looking terminology, including the terms
"believes," "estimates," "anticipates," "expects," "intends,"
"may," "will," or "should," and include statements argenx makes
concerning the encouraging preclinical data of ARGX-112; the
potential implications of these data for the future development of
ARGX-112; argenx's advancement of, and anticipated clinical
development and regulatory and clinical milestones, royalties, and
plans related to, ARGX-112; and the potential license to LEO
Pharma, and potential commercialization, of ARGX-112. By their
nature, forward-looking statements involve risks and uncertainties
and readers are cautioned that any such forward-looking statements
are not guarantees of future performance. argenx's actual results
may differ materially from those predicted by the forward-looking
statements as a result of various important factors, including
argenx's expectations regarding its the inherent uncertainties
associated with competitive developments, preclinical and clinical
trial and product development activities and regulatory approval
requirements; argenx's reliance on collaborations with third
parties; estimating the commercial potential of argenx's product
candidates; argenx's ability to obtain and maintain protection of
intellectual property for its technologies and drugs; argenx's
limited operating history; and argenx's ability to obtain
additional funding for operations and to complete the development
and commercialization of its product candidates. A further list and
description of these risks, uncertainties and other risks can be
found in argenx's U.S. Securities and Exchange Commission (SEC)
filings and reports, including in argenx's most recent annual
report on Form 20-F filed with the SEC as well as subsequent
filings and reports filed by argenx with the SEC. Given these
uncertainties, the reader is advised not to place any undue
reliance on such forward-looking statements. These forward-looking
statements speak only as of the date of publication of this
document. argenx undertakes no obligation to publicly update or
revise the information in this press release, including any
forward-looking statements, except as may be required by law.
Argen X (EU:ARGX)
Historical Stock Chart
From Mar 2024 to Apr 2024
Argen X (EU:ARGX)
Historical Stock Chart
From Apr 2023 to Apr 2024