argenx announces € 16 M investment by US funds advised by subsidiaries of Federated Investors
January 19, 2016
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argenx announces € 16 M investment by US funds advised by subsidiaries of Federated Investors
Breda, the Netherlands / Ghent, Belgium – argenx (Euronext Brussels: ARGX), a clinical-stage biopharmaceutical company focused on creating and developing differentiated therapeutic antibodies for the treatment of cancer and severe autoimmune diseases, today announced that funds advised by subsidiaries of Federated Investors, Inc. (USA) entered into a subscription agreement with argenx to purchase 1,480,420 shares at a price of € 10.79.
Following the completion of the transaction, funds advised by subsidiaries of Federated Investors, Inc. will hold 8.57% of the total issued capital of argenx. The subscription agreement is subject to customary conditions precedent including listing of the new shares on Euronext Brussels. The aim is to close the transaction in the coming days.
“The investment of this premier U.S. institution validates argenx’s track record since we went public in 2014. It strongly supports the company’s strategy to create a rich pipeline of highly differentiated antibodies,” said Tim Van Hauwermeiren, CEO of argenx. “We will use this capital to continue to advance our products in clinical development, which now includes three SIMPLE AntibodyTM products in cancer and severe auto-immune diseases. We are working towards the initiation of our first
Phase 2 clinical trial.”
Proceeds from the investment will be used by argenx for general corporate purposes and to:
advance the SIMPLE AntibodyTM products ARGX-110, ARGX-111 and ARGX-113 towards clinical proof of concept in T-cell lymphoma, MET amplified cancers and severe autoimmune diseases
initiate, advance and/or accelerate the preclinical development of other argenx programs.
ABN Amro will act as Listing Agent and Settlement Agent.