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4-Traders Homepage  >  Equities  >  London Stock Exchange  >  Shire PLC    SHP   JE00B2QKY057


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Shire Plc. : arGEN-X enters into a therapeutic antibody alliance with Shire

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02/29/2012 | 11:01am CEST

Rotterdam, the Netherlands and Ghent, Belgium February 29, 2012- arGEN-X, a biopharmaceutical company focused on the discovery and development of human monoclonal antibodies from its proprietary SIMPLE Antibody™ platform, announces today that it has entered into an alliance with Shire to create novel therapeutic antibody products against multiple targets submitted by Shire.

Using its cutting edge SIMPLE Antibody™ discovery technology, arGEN-X will isolate and characterize human antibodies against the targets that Shire has identified and that are known to contribute to the pathophysiology of severe, rare genetic diseases. arGEN-X will also bring its state-of-the-art antibody capabilities to the collaboration for the preclinical characterization of therapeutic leads. Shire has the option to license the most promising leads for further preclinical and clinical development and commercialization worldwide.

Under the terms of the agreement, arGEN-X will receive an upfront technology access fee, research funding and preclinical success payments. In return for its option to develop and commercialize products on an exclusive basis, Shire will pay fees, milestones and royalties on product sales. Specific details of the financial terms were not disclosed.

Tim Van Hauwermeiren, CEO of arGEN-X, said, "We are delighted to pioneer human antibodies as novel, first-in-class therapies for rare diseases with a partner of Shire's calibre. Shire's depth of experience in protein-based therapies is the perfect complement to our own discovery capabilities. We are confident that our SIMPLE Antibody™ platform, which consistently delivers antibodies of therapeutic quality against complex targets often intractable with other technologies, will bring significant value to this alliance. We believe this alliance represents an industry first and we are looking forward to an exciting and productive collaboration with Shire."

"As a leader in innovative therapies for rare diseases, Shire is continuing to apply new technologies to address the needs of patients," said Philip J. Vickers, Senior Vice President, Research and Development, Shire Human Genetic Therapies (HGT). "Monoclonal antibody therapy is an underutilized approach to the treatment of rare diseases, and this novel platform has the potential to bring multiple drug candidates into our early-stage pipeline. Partnerships such as this one with arGEN-X are an important part of our strategy to bring new therapies to those suffering from rare diseases worldwide."

About arGEN-X- www.arGEN-X.com

arGEN-X is a preclinical stage biopharmaceutical company that is rapidly leveraging the power of its broadly applicable, proprietary SIMPLE Antibody™ platform to generate fully human antibodies with differentiated qualities and outstanding therapeutic potential. The platform excels in delivering large panels of ultra-potent, functionally diverse antibodies against complex disease targets, especially cell surface receptors and highly conserved proteins. The superior choice that arGEN-X brings to antibody discovery enables it to prioritise leads with best-in-class therapeutic properties, thereby increasing the probability of development success. Antibody leads generated from the SIMPLE Antibody™ platform have outstanding physicochemical properties and consistent manufacturability, enabling a seamless transition from discovery into development. arGEN-X has validated its technology on multiple diverse classes of target to date and has successfully delivered in its collaboration with Eli Lilly & Co..

arGEN-X' SIMPLE Antibody™ platform is based on the active immunization of Camelids with target antigens to deliver antibody variable regions that are essentially identical to those of human antibodies. arGEN-X is able to generate full size, human therapeutic antibodies by combining these variable regions with human constant domains.

The SIMPLE Antibody™ platform is covered by broad patent claims, enjoys an independent, unencumbered patent position and is free of target gatekeeping restrictions.

arGEN-X™ and SIMPLE Antibody™ are deposited trademarks of arGEN-X BV.

SIMPLE stands forSuperiorI mmunodiversity withMinimalP roteinLeadE ngineering.

Shire PLC

Shire's strategic goal is to become the leading specialty biopharmaceutical company that focuses on meeting the needs of the specialist physician. Shire focuses its business on attention deficit hyperactivity disorder, human genetic therapies, gastrointestinal diseases and regenerative medicine as well as opportunities in other therapeutic areas to the extent they arise through acquisitions. Shire's in-licensing, merger and acquisition efforts are focused on products in specialist markets with strong intellectual property protection and global rights. Shire believes that a carefully selected and balanced portfolio of products with strategically aligned and relatively small-scale sales forces will deliver strong results.

For further information on Shire, please visit the Company's website: www.shire.com.

For further information, please contact:

Citigate Dewe Rogerson
David Dible
Tim Van Hauwermeiren, MSc, eMBA
Mark Swallow
Chief Executive Officer
Nina Enegren
T: +31 6 122 85 257
T: +44 207 282 2949/2948/1050
E: tim.vh@arGEN-X.com
E: david.dible@citigatedr.co.uk
Debbie Allen, Ph.D.
Senior Director, Business Development
T: +44 7974 979479
E: dallen@arGEN-X.com
Shire - Human Genetic Therapies US
Shire Corporate
Jessica Cotrone
Jessica Mann
T: +1 781 482 9538
T: +44 1256 894280
E: jmann@shire.com

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Financials ($)
Sales 2016 11 042 M
EBIT 2016 3 810 M
Net income 2016 1 475 M
Debt 2016 19 997 M
Yield 2016 0,47%
P/E ratio 2016 26,61
P/E ratio 2017 14,29
EV / Sales 2016 6,87x
EV / Sales 2017 4,73x
Capitalization 55 893 M
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Mean consensus OUTPERFORM
Number of Analysts 23
Average target price 79,2 $
Spread / Average Target 28%
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Flemming Ornskov Chief Executive Officer & Executive Director
Susan Saltzbart Kilsby Non-Executive Chairman
Jeffrey Poulton Chief Financial Officer & Executive Director
Philip J. Vickers Global Head-Research & Development
David R. Ginsburg Independent Non-Executive Director
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