argenx and Shire extend partnership to fight rare diseases
February 27, 2017Argenx and Shire have extended their strategic partnership from 2014 to advance the discovery and development of novel human therapeutic antibodies for diverse rare and unmet diseases for a further year until May 30, 2018.
According to agreement, Shire may exercise options – accompanied by a milestone payment to argenx on a per program basis – to take over product development and commercialization. Argenx will thereafter receive milestone payments as programs proceed through clinical development and royalties on eventual product sales. Also, argenx shall have the right to in-license any products falling outside Shire`s areas of focus on pre-agreed financial terms. Further details of the extension agreement were not disclosed.
The initial agreement between Shire and argenx commenced in 2012 and was expanded into a strategic alliance in 2014 granting Shire licenses to the entire suite of argenx discovery technologies. Argenx has received licensing fees, research funding, and milestone payments from this collaboration.
