argenx announces € 16 M investment by US funds advised by subsidiaries of Federated Investors
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19 January 2016
Breda, the Netherlands / Ghent, Belgium - argenx (Euronext Brussels: ARGX), a clinical-stage biopharmaceutical company focused on creating and developing differentiated therapeutic antibodies for the treatment of cancer and severe autoimmune diseases, today announced that funds advised by subsidiaries of Federated Investors, Inc. (USA) entered into a subscription agreement with argenx to purchase 1,480,420 shares at a price of € 10.79.
Following the completion of the transaction, funds advised by subsidiaries of Federated Investors, Inc. will hold 8.57% of the total issued capital of argenx. The subscription agreement is subject to customary conditions precedent including listing of the new shares on Euronext Brussels. The aim is to close the transaction in the coming days.
"The investment of this premier U.S. institution validates argenx's track record since we went public in 2014. It strongly supports the company's strategy to create a rich pipeline of highly differentiated antibodies," said Tim Van Hauwermeiren, CEO of argenx. "We will use this capital to continue to advance our products in clinical development, which now includes three SIMPLE AntibodyTM products in cancer and severe auto-immune diseases. We are working towards the initiation of our first Phase 2 clinical trial."
Proceeds from the investment will be used by argenx for general corporate purposes and to:
- advance the SIMPLE AntibodyTM products ARGX-110, ARGX-111 and ARGX-113 towards clinical proof of concept in T-cell lymphoma, MET amplified cancers and severe autoimmune diseases
- initiate, advance and/or accelerate the preclinical development of other argenx programs.
ABN Amro will act as Listing Agent and Settlement Agent.
argenx combines the diversity of the llama immune system with antibody engineering to advance a clinical pipeline to treat patients with cancer and autoimmune diseases. Our platforms allow us to unlock novel and complex targets and develop antibody-based drugs designed for greater efficacy and longer duration of effect. The strength of our team, our deep understanding of the biology, and our committed collaborations with industry leaders contribute to the success of our journey.
argenx is listed on the Euronext Brussels exchange under the symbol ARGX.
About Federated Investors, Inc.
Federated Investors, Inc. (NYSE: FII) is one of the largest investment managers in the United States, managing $351.0 billion in assets as of Sept 30, 2015. With 129 funds, as well as a variety of separately managed account options, Federated provides comprehensive investment management worldwide to more than 8,400 institutions and intermediaries including corporations, government entities, insurance companies, foundations and endowments, banks and broker/dealers. www.FederatedInvestors.com
For further information, please contact:
Joke Comijn, Corporate Communications Manager
+32 (0)477 77 29 44
+32 (0)9 243 40 70
This announcement does not contain or constitute an offer of, or the solicitation of an offer to buy or subscribe for, securities to any person in the United States, Australia, Canada, Japan or in any jurisdiction to whom or in which such offer or solicitation is unlawful.
This release is not an offer of securities for sale in the United States of America. The securities referred to in this press release have not been, and will not be, registered under the U.S. Securities Act of 1933, as amended (the "Securities Act"). Securities may not be offered or sold absent registration or an applicable exemption from registration or in a transaction not subject to the registration requirements of the Securities Act. Any public offering of securities to be made in the United States of America would be made by means of a prospectus and would contain detailed information about the Company and management, as well as financial statements. There will be no public offer of the securities in the United States of America.
The contents of this announcement include statements that are, or may be deemed to be, "forward-looking statements". These forward-looking statements can be identified by the use of forward-looking terminology, including the terms "believes", "estimates", "anticipates", "expects", "intends", "may", "will", or "should", and include statements argenx makes concerning the intended results of its strategy. By their nature, forward-looking statements involve risks and uncertainties and readers are cautioned that any such forward-looking statements are not guarantees of future performance. argenx' actual results may differ materially from those predicted by the forward-looking statements. argenx undertakes no obligation to publicly update or revise forward-looking statements, except as may be required by law. "Management's Discussion and Analysis of Financial Condition and Results of Operations" "Management's Discussion and Analysis of Financial Condition and Results of Operations"