Thursday, May 23, 2019
Halozyme Therapeutics, Inc., a biotechnology company developing novel oncology and drug-delivery therapies, today announced that argenx has selected a second target under the collaboration and license agreement the companies announced in February 2019.
The second target selected for development by argenx is human complement factor C2 associated with the product candidate ARGX-117, which is being developed to treat severe autoimmune diseases. Halozyme will receive a $10 million milestone payment during the current quarter from argenx for this target nomination and potential future payments of up to $160 million subject to achievement of specified development, regulatory and sales-based milestones. Halozyme will also receive mid-single digit royalties on future commercial sales products. argenx has now selected two targets for development and can select one additional target in the future according to the terms of the collaboration and license agreement.
"We are excited about this opportunity to expand our partnership with argenx," said Dr. Helen Torley, president and chief executive officer. "Planning is well underway for the second half 2019 phase 1 study initiation for the first selected target, FcRn. This second development stage target to be used with our ENHANZE® drug delivery technology is yet another example of the potential for ENHANZE® to provide dosing optionality for patients. We look forward to continuing our work with argenx as they seek to improve the lives of patients suffering with severe autoimmune diseases."