arGEN-X and LEO Pharma sign 100 million-euro research accord

21 May 2015

Belgium-based biotech firm arGEN-X N (Euronext Brussels: ARGX) has entered into an alliance with independent Danish dermatology specialist LEO Pharma, to develop innovative antibody-based solutions for the treatment of chronic inflammation underlying many skin conditions.

Under the terms of the accord, LEO Pharma receives exclusive access to an existing arGEN-X antibody currently in preclinical development for inflammation-related skin diseases. arGEN-X receives pre-IND (Investigational New Drug) payments of 4.5 million euros ($5 million), including an upfront payment. arGEN-X will also receive clinical, regulatory, and sales milestone payments that may total upward of 100 million euros, 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.

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