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AbbVie Exercises Option to Develop argenx Cancer Immunotherapy ARGX-115

05:53 EDT 22 Aug 2018 | Genetic Engineering News

AbbVie has exercised its exclusive license option to develop and commercialize argenx’s preclinical cancer immunotherapy ARGX-115, argenx said today, making the Belgian biotech eligible for up to $625 million in milestone payments, plus royalties. AbbVie’s decision comes two months after the company paid argenx $10 million following achievement of a second unspecified preclinical milestone in the companies’ two-year-old collaboration. AbbVie paid argenx $10 million for achieving the first preclinical milestone in April 2017, and $40 million upfront for the exclusive option to license ARGX-115 when the companies launched their collaboration in April 2016 . Under the collaboration, AbbVie also agreed to pay argenx up to $625 million tied to achieving development, regulatory and commercial milestones, plus tiered royalties on ARGX-115-based product sales. argenx also has the right to co-promote ARGX-115-based products in the EU and Swiss Economic Area. “Our collaboration with argenx over the past ...

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