argenx receives second preclinical milestone payment under its development agreement with AbbVie
June 28 2018 - 1:00AM
June 28,
2018
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 the second
of two preclinical milestones towards an investigational new drug
(IND) filing for ARGX-115, triggering a further $ 10 million
payment from AbbVie.
In April 2016, argenx entered into a development
and exclusive license option agreement with AbbVie to develop and
commercialize ARGX-115. Under the terms of that agreement, argenx
has been responsible for conducting and funding all ARGX-115
research and development activities up to completion of
IND-enabling studies.
Over the course of the past two years, argenx
has been eligible to receive two preclinical milestones of $ 10
million each. The second milestone was achieved today.
About ARGX-115 ARGX-115 employs argenx's
SIMPLE Antibody(TM) technology and binds specifically to the
protein glycoprotein A repetitions predominant (GARP), which plays
a key role in the regulation of production and release of active
transforming growth factor beta (TGF-beta). ARGX-115 is believed to
selectively limit the immunosuppressive activity of activated
regulatory T-cells (Tregs), thereby stimulating the immune system
to attack cancer cells. While the normal function of Tregs is to
suppress certain compartments of the immune system to prevent
self-directed immune responses through the release of active
TGF-beta, Tregs can also prevent the immune system from recognizing
and suppressing pathogenic cells including cancer cells. We believe
the selective inhibition of TGF-beta release by Tregs is
potentially superior to systemic inhibition of
TGF-beta activity or depletion of Tregs and may give rise to
therapeutic products with an improved safety profile.
ARGX-115 was discovered under argenx's
Innovative Access Program with the de Duve Institute / Université
Catholique de Louvain / WELBIO and exclusively licensed under a
research and option agreement in 2013.
About argenxargenx is a clinical-stage
biotechnology company developing a deep pipeline of differentiated
antibody-based therapies for the treatment of severe autoimmune
diseases and cancer. The company is 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.
argenx' ability to execute on this focus is enabled by its suite of
differentiated technologies. The SIMPLE Antibody(TM) Platform,
based on the powerful llama immune system, allows argenx to exploit
novel and complex targets, and the three antibody engineering
technologies are designed to enable the expansion of the
therapeutic index of the company's product candidates.
www.argenx.com
For further information, please
contact:
Joke Comijn, Director Corporate Communications
& Investor Relations (EU)+32 (0)477 77 29 44+32 (0)9 310 34
19info@argenx.com
Beth DelGiacco, VP Investor Relations (US)+1 518
424 4980bdelgiacco@argenx.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 intended results of its strategy and argenx's
advancement of, and anticipated clinical development and regulatory
milestones and plans. 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.
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