argenx receives milestone payment in LEO Pharma collaboration
Breda, the Netherlands / Ghent, Belgium, 2 February 2016 - 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 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.
Under the May 20th, 2015 agreement, argenx and LEO Pharma are collaborating to develop innovative antibody-based solutions for the treatment of chronic inflammation underlying diverse skin conditions. LEO Pharma received an exclusive license to a preclinical-stage argenx SIMPLE AntibodyTM program in return for an upfront payment as well as the potential for milestone and royalty payments. Argenx now receives an undisclosed milestone payment from LEO Pharma for the successful attainment of this milestone.
"We are pleased with this excellent progress, which has resulted from an outstanding collaboration between LEO Pharma and our team," commented Tim Van Hauwermeiren, CEO at argenx. "The attainment of this milestone is testament to our track record in antibody development and our excellent relationship with our partners."
"This collaboration accentuates LEO Pharma's strong commitment to build strategic partnerships with the aim to deliver new innovative medical solutions," said Thorsten Thormann, Senior Vice President, New Product Discovery, LEO Pharma. "The achieved milestone brings us one step closer to helping more patients suffering from skin diseases."
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 LEO Pharma
LEO Pharma helps people achieve healthy skin. By offering care solutions to patients in more than 100 countries globally, LEO Pharma supports people in managing their skin conditions. Founded in 1908 and owned by the LEO Foundation, the healthcare company has devoted decades of research and development to delivering products and solutions to people with skin conditions. LEO Pharma is headquartered in Denmark and employs around 4,800 people worldwide.
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