argenx Inks $1.6 Billion Agreement With Janssen Affiliate

San Diego – February 26, 2019 – Cooley advised argenx on its global collaboration and license agreement with Cilag GmbH International, an affiliate of the Janssen Pharmaceutical Companies of Johnson & Johnson, for its product candidate cusatuzumab (ARGX‑110), a highly-differentiated anti‑CD70 SIMPLE Antibody. Partners Jane Adams and Nicola Maguire led the Cooley team advising argenx on the agreement, which is potentially worth $1.6 billion.

Cusatuzumab is an antibody being evaluated for the treatment of acute myeloid leukemia and myelodysplastic syndrome.

Under the terms of the agreement, Janssen paid argenx $300 million upfront, and Johnson & Johnson Innovation – JJDC, Inc. purchased $200 million of newly issued argenx shares. Additionally, argenx is eligible to receive up $1.3 billion in milestones, as well as tiered, double-digit royalties.

“Janssen is an ideal strategic partner for us to develop this differentiated investigational therapy given its extensive clinical, regulatory and commercial expertise in oncology, and we believe that through this collaboration we are best positioned to reach the broadest number of patients as quickly as possible,” said argenx CEO Tim Van Hauwermeiren in a statement. “The collaboration also strengthens our financial position, enabling our growth into a fully integrated organization as we continue to exploit our deep pipeline of wholly-owned product candidates.”

argenx is a clinical-stage biotechnology company developing a deep pipeline of differentiated antibody-based therapies for the treatment of severe autoimmune diseases and cancer.

About Cooley LLP

Clients partner with Cooley on transformative deals, complex IP and regulatory matters, and high-stakes litigation, where innovation meets the law.

Cooley has 1,000+ lawyers across 14 offices in the United States, China and Europe.

This content is provided for general informational purposes only, and your access or use of the content does not create an attorney-client relationship between you or your organization and Cooley LLP, Cooley (UK) LLP, or any other affiliated practice or entity (collectively referred to as “Cooley”). By accessing this content, you agree that the information provided does not constitute legal or other professional advice. This content is not a substitute for obtaining legal advice from a qualified attorney licensed in your jurisdiction and you should not act or refrain from acting based on this content. This content may be changed without notice. It is not guaranteed to be complete, correct or up to date, and it may not reflect the most current legal developments. Prior results do not guarantee a similar outcome. Do not send any confidential information to Cooley, as we do not have any duty to keep any information you provide to us confidential. This content may be considered Attorney Advertising and is subject to our legal notices.