Industry Trend Analysis - Autoimmune Developments Progress argenx Toward Profitability - DEC 2017

BMI View: argenx is progressing well with its lead candidate, with potential indications for three relatively minor but underserved autoimmune conditions looking likely. As a start-up company, success in these trials will be essential to help the firm achieve profit making status, but there is considerable market confidence in the firm, underscored by a successful initial public offering in the US coupled with R&D agreements with a number of large pharmaceutical firm s .

The FDA's Office of Orphan products Development has granted orphan drug status for argenx's ARGX-113 for the treatment of myasthenia gravis (MG). ARGX-113 is an investigational therapy for treatment of IgG-mediated autoimmune diseases. It is the Fc-portion of an antibody that has been modified by argenx's proprietary ABDEG technology to increase its affinity for FcRn beyond that of normal IgG antibodies. As a result, ARGX-113 blocks antibody recycling and leads to fast depletion of the autoimmune disease-causing IgG autoantibodies.

MG is an autoimmune disorder associated with muscle weakness that is triggered by IgG auto-antibodies; presently there is no cure. These antibodies attack critical signalling proteins at the junction between nerve and muscle cells, thereby impairing their communications signals. There are limited effective and sustainable treatments for MG. ARGX-113 has the potential to eliminate patient symptoms while minimising common side effects seen with current treatments by reducing the pathogenic IgG levels.

argenx Still Some Way Off Profitability Despite Rising Income
argenx's Annual Top-Line Results (EUR000s)
Source: argenx, BMI

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