AbbVie exercises option for argenx cancer candidate

AbbVie Inc. (NYSE:ABBV) exercised an option for exclusive, worldwide rights to develop and commercialize ARGX-115 from argenx S.E. (Euronext:ARGX; NASDAQ:ARGX).

argenx told BioCentury it has received $60 million from AbbVie thus far under the 2016 deal, including a $40 million upfront payment to obtain the option plus $20 million in preclinical milestones. argenx, which was was responsible for R&D through IND-enabling studies of ARGX-115, is eligible for up to an additional $625 million in milestones, plus royalties (see “AbbVie Gets Option for argenx mAb”). ...