argenx shares rocket on news of $1.6 billion cusatuzumab deal
Belgo-Dutch biotech argenx (Euronext Brussels: ARGX) yesterday announced an exclusive, global collaboration and license agreement for cusatuzumab (ARGX-110), adding to its lucrative deal in the summer with AbbVie (NYSE: ABBV), with the news sending its share leaping 13% to 10.90 euros by close of trading on Monday.
Cusatuzumab, a highly differentiated anti-CD70 SIMPLE AntibodyÔ, has been licensed to Cilag GmbH International, an affiliate of the Janssen Pharmaceutical Companies of Johnson & Johnson (NYSE: JNJ).
Cusatuzumab is currently in development in a Phase I/II combination study with Vidaza (azacitidine) for newly-diagnosed, elderly patients with acute myeloid leukemia (AML) and high-risk myelodysplastic syndrome (MDS) who are unfit for chemotherapy. Data announced from the Phase I/II study will be presented during a workshop being held in conjunction with the 60th American Society of Hematology Annual Meeting and Exposition.
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