Dutch firm argenx, J&J affiliate to collaborate on cancer therapy

Dutch firm argenx, J&J affiliate to collaborate on cancer therapy

REUTERS: Netherlands-based biopharmaceutical company argenx SE said it signed a deal with Cilag GmbH International, an affiliate of Johnson & Johnson's Janssen Pharmaceutical Companies unit, to develop its Cusatuzumab drug in certain types of cancer.

The deal, which is potentially worth up to US$1.6 billion, represents a global collaboration and licensing agreement for the cancer drug Cusatuzumab, the company said.

Janssen will pay argenx US$300 million in upfront cash payment, while Johnson & Johnson Innovation will make an equity investment of US$200 million in argenx, the company said.

The Netherlands-based company, which develops antibody-based therapies for the treatment of severe autoimmune diseases and cancer, will be eligible to receive potentially up to US$1.3 billion in development, regulatory and sales milestones, it said in a statement.

(Reporting by Kanishka Singh in Bengaluru; Editing by Gopakumar Warrier)

Source: Reuters

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