Shire and arGEN-X agree long-term strategic alliance

Shire has formed a new long-term strategic alliance with arGEN-X, a company focused on creating differentiated therapeutic antibodies for cancer and autoimmune disease.

The new collaboration will see arGEN-X bring its entire suite of human antibody discovery technologies to a partnership focused on multiple targets aligned with Shire's therapeutic focus. 

Shire will make a total upfront investment of 15 million euros (12.16 million pounds) in arGEN-X and will also fund collaborative research programmes, paying fees, clinical, regulatory and sales milestones, as well as single-digit royalties on therapeutic product sales.

The multi-year initiative will help augment the Shire development pipeline and follows an initial research and development collaboration undertaken in March 2012. The success of this project has led the firm to make a longer-term investment.

Dr Philip Vickers, global head of research and development at Shire, said: "Our arGEN-X collaboration has exceeded our expectations in delivering highly differentiated antibody programs within our therapeutic focus."

Last month, the company agreed a deal to acquire Lumena Pharmaceuticals, a move that will strengthen its rare disease portfolio.