AbbVie Partners With Argenx In Cancer Deal Spree
AbbVie Inc. is boosting its early-stage oncology pipeline with multiple preclinical licensing deals, including a deal with the Belgian firm argenx, which was followed by a deal with CytomX Therapeutics Inc.
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Antibody-drug conjugates have taken a back seat to cancer immunotherapy as the hot modality in oncology of late, but AbbVie Inc. and CytomX Therapeutics Inc. unveiled a partnership on April 20 to develop an ADC in a deal that CytomX cites as further validation of its Probody technology platform.
AbbVie swooped in to buy Pharmacyclics for $21bn on 4 March after several days of speculation that the Sunnyvale, California-based biopharmaceutical firm would be acquired by its Imbruvica (ibrutinib) development partner Johnson & Johnson for as much as $19bn.
Two companies in the biopharma space began trading publicly this week, one to pay off debt, the other to fund an early-stage pipeline.