arGEN-X reaches two milestone payments in Shire deal and signs research agreement with Boehringer

Belgium-based biotech firm arGEN-X has reached two important success milestones in its SIMPLE Antibody research and product development collaboration with Ireland-headquartered drugmaker Shire (LSE: SHP).

The milestones, which trigger undisclosed payments from Shire, relate to demonstration of in vivo proof of concept for one of the ongoing antibody discovery programs. Their 2012 agreement is focused on creating human therapeutic antibodies against complex targets implicated in severe, rare genetic diseases. Shire has an option to license the most promising antibody leads for further development and commercialization worldwide, in return for fee, milestone and royalty payments.

Hans de Haard, chief scientific officer of arGEN-X, said: “Yet again the functional diversity of SIMPLE Antibodies has enabled our scientists to set a precedent in validating highly complex targets both in vitro and in vivo and identifying antibody leads with exciting therapeutic potential. We value our collaboration with Shire very highly and continue to make excellent progress through the outstanding joint efforts of our teams.”