Argen-X starts a collaboration with the global biopharmaceutical company AbbVie to develop and commercialize its novel immuno-oncology drug candidate, ARGX-115. ARGX-115 is a preclinical-stage human antibody program targeting GARP, a protein believed to contribute to immunosuppressive effects of T-cells.
Argen-X will receive an upfront payment of 35,3 million euros and subsequent preclinical milestone payments of 17,7 million dollar, for a total of 50 million euros. AbbVie may exercise an exclusive option to license the ARGX-115 program and assume responsibility for further clinical development and commercialization.
