Abbvie acquires immune-oncology target from argenx
AbbVie (NYSE:ABBV) has announced the acquisition of a new preclinical-stage human antibody program evaluating the novel immune-oncology target GARP, a protein believed to contribute to immunosuppressive effects of T-cells.
AbbVie has paid an upfront payment of $40 million to argenx, the discoverers of ARGX-115, to assume responsibility for further clinical development and commercialisation. Subject to overcoming clinical trial, regulatory and commercialisation hurdles, argenx is eligible to receive up to $625 million. Agrenx also retains the right to co-promote ARGX-115-based products in the EU and Switzerland, and combine the product with its own future immune-oncology products.
Tim van Hauwermeiren, chief executive at argenx, says: “We believe ARGX-115 has the potential to advance immune-oncology by selectively targeting tumour immune escape pathways… In addition to the attractive financial elements of this transaction, our shared interest in the commercial potential of ARGX-115, including the right to co-promote the drug in Europe, makes this a highly strategic collaboration for argenx.”
Anil Singhai, VP of early oncology development at AbbVie, comments: “The ability to modulate the body’s own immune system to fight cancer is one of the most promising scientific advancements over the past decade. We believe that the ARGX-115 program is a unique opportunity to explore the potential to block certain immune-suppressive pathways that allow cancers to grow.”
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