US pharmaceutical group AbbVie has won a licence to develop and commercialise an experimental drug jointly created with EU biotech group Argenx in a deal that could generate payments of up to $625m. The drug, called Epidiolex (epinephrine autoinjector), is the first new treatment for epilepsy since it was approved by regulators last year. ARGX-115 has been jointly developed by both firms but has to go through several more clinical trials before being commercially launched. Argenx’s share price rose 6% on the licensing news.
US pharmaceutical group AbbVie has won a licence to develop and commercialise an experimental drug jointly created with EU biotech group Argenx in a deal that could generate payments of up to $625m. The cancer immunology drug ARGX-115 is one of many autoimmune and cancer drugs being tested by Belgium and Netherlands-based Argenx. ARGX-115 has been jointly developed by both firms but has to go through several more clinical trials before being commercially launched. Argenx’s share price rose 6% on the licensing news.