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)