argenx receives milestone payment from strategic collaboration with Shire
July 17 2018 - 1:00AM
July 17, 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
that it has reached a preclinical milestone in its strategic
collaboration with Shire plc. The milestone, for which an
undisclosed payment has been received, was triggered by Shire
exercising its exclusive option to in-license an antibody
discovered and developed using the Company's proprietary SIMPLE
Antibody(TM) platform and Fc engineering technologies.
"The exclusive option exercised by
Shire is a testament to the power of our antibody platform and the
excellent progress we have made in our strategic collaboration,
discovering highly differentiated SIMPLE antibodies against select
novel targets," said Hans de Haard, Chief Scientific Officer of
argenx. "The productivity of this partnership demonstrates our
continued investment in antibody discovery collaborations and
complements the clinical development progress we are making with
our wholly-owned programs."
argenx entered into an initial
collaboration with Shire in 2012 to discover, develop and
commercialize human therapeutic antibodies against novel targets to
address diverse, rare and unmet diseases. In 2014, the
collaboration was expanded to provide Shire with a sublicense to
the entire suite of argenx discovery technologies. Under the terms
of that agreement, Shire may exercise exclusive options to license,
develop and commercialize arising programs, in return for milestone
and royalty payments upon achievement of specified development,
regulatory and commercial milestones.
About
argenx
argenx is a clinical-stage biotechnology company developing a deep
pipeline of differentiated antibody-based therapies for the
treatment of severe auto-immune 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 AntibodyTM 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 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 19
info@argenx.com
Beth DelGiacco, VP Investor Relations
(US)
+1 518 424 4980
bdelgiacco@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 its collaboration with Shire, including argenx's
ability to receive the expected benefits thereof such as future
milestones and royalty payments. 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.
This
announcement is distributed by Nasdaq Corporate Solutions on behalf
of Nasdaq Corporate Solutions clients.
The issuer of this announcement warrants that they are solely
responsible for the content, accuracy and originality of the
information contained therein.
Source: argenx SE via Globenewswire
argenx (NASDAQ:ARGX)
Historical Stock Chart
From Apr 2024 to May 2024
argenx (NASDAQ:ARGX)
Historical Stock Chart
From May 2023 to May 2024