Argenx partners with pharma giant AbbVie
The Ghent biotech company argenx will work together with the American pharmaceutical giant AbbVie on developing its cancer drug ARGX-115.
Through this cooperation argenx will already receive a 40 million dollar advance payment. In a later stage AbbVie will grant the Ghent company another 20 million dollars.
These financial injections are a major step forwards in the further development of the cancer drug ARGX-115. It is hoped that this drug, which argenx developed in cooperation with the De Duve Institute and the University of Louvain-la-Neuve (UCL), will be able to fight cancer by effectively responding to the body's own immune system.
Although only founded in 2008, argenx has grown into an important player in the biotech sector. It is notable that argenx BVBA bases its activities on the specific characteristics of antibodies found in llamas in the Andes.
AbbVie is a multinational biopharmaceutical company grown out of Abbot Laboratories in 2013. AbbVie employs more than 28,000 people worldwide and sells its medicines in over 170 countries.