US pharmaceutical company AbbVie has obtained a licence to develop and market an experimental drug jointly created with EU biotech group Argenx in a deal that could generate payments of up to $ 625 m . The cancer immunology drug ARGX-115 is one of many autoimmune and cancer drugs being developed by Belgium and Luxembourg - based Argenx . After listing on the stock market in 2014, Argenx’s share price has increased tenfold and it joined Belgium’s blue-chip index Bel20 earlier this year. ARGX-115 has been jointly developed by both companies 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 company AbbVie has obtained a licence to develop and market an experimental drug jointly created with EU biotech group Argenx in a deal that could generate payments of up to $ 625 m . The cancer immunology drug ARGX-115 is one of many autoimmune and cancer drugs being developed by Belgium and Luxembourg - based Argenx . ARGX-115 has been jointly developed by both companies but has to go through several more clinical trials before being commercially launched . Argenx ’s share price rose 6 % on the licensing news .