Breda, the Netherlands / Ghent, Belgium, March 15, 2017 - argenx (Euronext Brussels: ARGX), a clinical-stage biotechnology company developing a deep pipeline of differentiated antibody-based therapies for the treatment of severe autoimmune diseases and cancer, today announced its fourth quarter business update and full year results for 2016, in accordance with IFRS as adopted by the European Union.
"The past year was one of significant growth for argenx, and we have seen the momentum maintained into the first months of 2017. We continued to build our proprietary pipeline and advanced both our lead programs, ARGX-113 and ARGX-110, through key safety and early efficacy inflection points. Our early studies guided us on the attributes of each drug and enabled us to choose the indications we believe were best-suited for Phase 2 study. By the end of the first quarter, we plan to launch four proof-of-concept Phase 2 studies: MG and ITP for ARGX-113, and AML and TCL for ARGX-110," commented Tim Van Hauwermeiren, CEO of argenx. "We were also busy outside the clinic with the start of our collaboration with AbbVie for our novel immuno-oncology product, ARGX-115, under which we received an upfront payment of $40 million and through the expansion of our shareholder base with blue-chip U.S. investors resulting in a €46 million investment over the course of 2016."
The company’s full press release with its complete fourth quarter business update and full year results for 2016 can be accessed on the argenx website at www.argenx.com.
About argenx
argenx a clinical-stage biotechnology company developing a deep pipeline of differentiated antibody-based therapies for the treatment of severe auto-immune diseases and cancer. We are focused on developing product candidates with the potential to be either first-in-class against novel targets or best-in-class against known, but complex, targets in order to treat diseases with a significant unmet medical need. Our ability to execute on this focus is enabled by our suite of differentiated technologies. Our SIMPLE AntibodyTM Platform, based on the powerful llama immune system, allows us to exploit novel and complex targets, and our three antibody engineering technologies are designed to enable us to expand the therapeutic index of our product candidates.
Forward-looking Statements
The contents of this announcement include statements that are, or may be deemed to be, "forward-looking statements." These forward-looking statements can be identified by the use of forward-looking terminology, including the terms "believes," "estimates," "anticipates," "expects," "intends," "may," "will," or "should," and include statements argenx makes concerning the intended results of its strategy; its financial condition, results of operation and business outlook; the sufficiency of its cash, cash equivalents and current financial assets; and the momentum of its product candidate pipeline as well as the advancement of, and anticipated clinical development and regulatory milestones and plans related to, argenx's product candidates and clinical trials. By their nature, forward-looking statements involve risks and uncertainties and readers are cautioned that any such forward-looking statements are not guarantees of future performance. argenx's actual results may differ materially from those predicted by the forward-looking statements. argenx undertakes no obligation to publicly update or revise the information in this press release, including any forward-looking statements, except as may be required by law.