AbbVie doubles down on cancer project with biotech group Argenx
BRUSSELS: Biotech group Argenx said U.S. pharma group AbbVie had exercised an exclusive option to develop and commercialize one of its experimental drugs which could lead to payments of up to $625 million.
Following the announcement, Argenx shares rose by more than 6 per cent in early trading.
Argenx, with bases in the Netherlands and Belgium, has several drugs to treat autoimmune diseases and cancer in various stages of medical trials, often in partnerships with large pharma groups.
It is also developing a cancer immunotherapy drug named ARGX-115 with AbbVie, for which the U.S. company has now decided to trigger an option which gives it an exclusive licence to develop and commercialise the drug.
ARGX-115 is in pre-clinical development, meaning it still has several stages of clinical trials to pass before it could enter the market.
After listing on the stock market in 2014, Argenx's share price has increased tenfold and it joined Belgium's blue-chip index Bel20 earlier this year.
Medical Dialogues Bureau consists of a team of passionate medical/scientific writers, led by doctors and healthcare researchers. Our team efforts to bring you updated and timely news about the important happenings of the medical and healthcare sector. Our editorial team can be reached at editorial@medicaldialogues.in. Check out more about our bureau/team here
Disclaimer: This site is primarily intended for healthcare professionals. Any content/information on this website does not replace the advice of medical and/or health professionals and should not be construed as medical/diagnostic advice/endorsement or prescription. Use of this site is subject to our terms of use, privacy policy, advertisement policy. © 2020 Minerva Medical Treatment Pvt Ltd