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Finance Watch: Argenx Raises $1.15bn For Efgartigimod Commercialization

FcRn Antibody Fragment Submitted To US FDA In January

 
• By Mandy Jackson

Public Company Edition: Among other recent large financings, BridgeBio Pharma launched a $650m note sale, CureVac closed a $517.5m follow-on offering and Revolution Medicines raised $260.9m.

Finance Watch

The Dutch firm argenx N.V. closed a follow-on public offering (FOPO) in the US and concurrent private placement of ordinary shares in Europe on 4 February that grossed $1.15bn to fund the company’s development and commercialization of efgartigimod, an antibody fragment that blocks FcRn.

Argenx went public at $17 per American depository share (ADS) in 2017 and has seen its value skyrocket based on clinical trial results in multiple indications for efgartigimod. The company sold 2.1m ADSs at $320 each in the FOPO and 1.5m ordinary shares at €265.69 each in the private placement

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