J&J pays $500M in cash to grab rights to a new star can­cer drug at ar­genx

J&J ex­ecs be­lieve they have found their next big can­cer drug.

Ear­ly Mon­day the phar­ma gi­ant an­nounced that it was pay­ing Bel­gium’s ar­genx $500 mil­lion — $300 mil­lion as an up­front and $200 mil­lion for eq­ui­ty — to grab the world­wide com­mer­cial rights to cusat­uzum­ab (ARGX-110) to treat acute myeloid leukemia and high-risk myelodys­plas­tic syn­dromes. The deal al­so comes with $1.3 bil­lion in mile­stones.

Unlock this article instantly by becoming a free subscriber.

You’ll get access to free articles each month, plus you can customize what newsletters get delivered to your inbox each week, including breaking news.

SIGN UP LOG IN BECOME A PREMIUM SUBSCRIBER