Under the terms of the agreement, Argos will receive up to $69 million, comprised of upfront and milestone payments, in addition to royalties on potential future sales of products.
“This is a confirmation of our ability to identify and develop novel immunotherapeutics,” said Jeff Abbey, vice president of business development for Argos. “The relationship with Novo Nordisk will enable us to accelerate the clinical development of one of our pipeline technologies.”
The agreement with Argos represents an addition to Novo Nordisk’s growing portfolio of biopharmaceutical projects within cancer and inflammation. Commenting on the agreement, Terje Kalland, senior vice president and head of Novo Nordisk’s biopharmaceuticals research unit, said: “Our strategy is to serve patients with a high unmet medical need by leveraging our core capabilities within protein therapeutics and inflammation through partnerships with leading biotech companies and research institutions.”