Pharma BD Deal Intelligence
Outcome grade pending — assessed 5 years post-close.
Full analysis, sources & comparables →PharmaTimes covered Janssen's $300M upfront plus $200M JJDC equity stake at EUR 100.02/share, characterizing the structure as a strong validation of argenx's…
BioSpace noted argenx regained worldwide rights to cusatuzumab after Janssen termination, with argenx evaluating partnering or in-house development paths…
FierceBiotech reported J&J culled the $1.6B argenx collaboration in June 2021, citing the 'evolving standard of care' in AML—a tacit reference to…
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argenx and Janssen (Cilag) entered exclusive global collaboration and license for cusatuzumab (ARGX-110), an anti-CD70 antibody, in December 2018. Janssen paid $300M upfront, JJDC bought $200M in newly issued argenx shares (4.68% stake at EUR 100.02/share), with up to $1.3B in development, regulatory and sales milestones plus tiered double-digit royalties ex-US and 50/50 US co-promotion economics. Lead indication AML/MDS in elderly patients unfit for chemotherapy. The collaboration was terminated in June 2021 when Cilag/Janssen discontinued the agreement following review of all cusatuzumab data and the evolving AML standard of care (venetoclax+azacitidine), returning worldwide rights to argenx. Rather than developing cusatuzumab in-house, argenx co-created OncoVerity, Inc. in 2022 with the University of Colorado Anschutz Medical Campus and UCHealth as an asset-centric spin-off, then granted OncoVerity an exclusive license to cusatuzumab in 2023 and provided funding (with additional participation in a 2024 financing round). As of 2024-2025 OncoVerity is the program sponsor: the Phase 2 OV-AML-1231 trial (NCT06384261) of cusatuzumab plus venetoclax and azacitidine versus venetoclax+azacitidine in newly diagnosed AML unfit for intensive therapy began July 2024 (active, not recruiting; estimated primary completion January 2027).
| Deal | Year | Value | Outcome |
|---|---|---|---|
| Janssen (Cilag GmbH International, J&J) / argenx SE (this deal) | 2018 | $1.8B | — |
| Amgen Inc. / Micromet Inc. | 2012 | $1.2B | 88 |
| Servier / Shire plc (Oncology Business) | 2018 | $2.4B | 88 |
| AstraZeneca PLC / Alexion Pharmaceuticals Inc. | 2020 | $39.0B | 86 |
| Swedish Orphan Biovitrum AB / Biovitrum | 2001 | $493M | 84 |
| Otsuka Pharmaceutical Co. Ltd. / Astex Pharmaceuticals | 2013 | $886M | 79 |
| AbbVie Inc. / Pharmacyclics Inc. | 2015 | $21.0B | 79 |
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More: 2018 deals · Hematology deals