Agreements

Date: 2017-06-20

Type of information: Milestone

Compound: antibody-based solutions (ARGX-112)

Company: Argen-X (Belgium - The Netherlands) Leo Pharma (Denmark)

Therapeutic area: Dermatological diseases - Inflammatory diseases

Type agreement: licensing - development

Action mechanism: antibody

Disease: chronic inflammation underlying skin conditions.

Details:

• On May 21, 2015, arGEN-X and LEO Pharma announced an alliance in which they will collaborate to develop innovative antibody-based solutions for the treatment of chronic inflammation underlying many skin conditions.
Under the terms of the agreement, LEO Pharma receives exclusive access to an existing arGEN-X antibody currently in preclinical development, ARGX-112, for inflammation-related skin diseases. argenx is responsible for conducting ARGX-112 research and development activities up to a first filing by LEO Pharma for clinical trial application approval.

Financial terms:

arGEN-X receives pre-IND payments of € 4.5 million, including an upfront payment. arGEN-X will also receive clinical, regulatory, and sales milestone payments that may total upward of € 100 million, as well as tiered, potentially double digit royalties on resulting products. The companies will co-fund product development costs up to clinical trial application (CTA) filing. Additional terms and financial details of the collaboration were not disclosed. Torreya Partners (Europe) LLP acted as financial advisor to arGEN-X on the transaction.

Latest news:

• On June 20, 2017, argenx announced the achievement of the second of two preclinical milestones in connection with its collaboration with LEO Pharma.
• On February 1, 2016, argenx announced it has received a milestone payment in connection with its collaboration with LEO Pharma. The companies have selected a lead cell line for manufacture of the licensed SIMPLE AntibodyTM candidate, in development for the treatment of inflammatory skin conditions.