argenx, AbbVie deal
AbbVie acquired an exclusive option from argenx to license ARGX-115, a mAb against leucine-rich repeat containing 32 ( LRRC32; GARP) that is in preclinical testing to treat cancer. argenx will be responsible for R&D through IND-enabling studies, after which AbbVie may exercise the option. If AbbVie exercises the option, the company would be responsible for further development and commercialization.
argenx will receive $40 million up front to obtain the option and is eligible for $20 million in two near-term preclinical milestones. argenx is eligible for up to $625 million in additional milestones, plus tiered, double-digit royalties. argenx may co-promote ARGX-115-based products in the EU and Switzerland and may combine ARGX-115 with its own future immuno-oncology programs. ...