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arGEN-X is Awarded EUR1.3 Million IWT Grant to Advance Proprietary SIMPLE Antibody(TM) Platform for Addressing Challenging Disease Targets

December 19, 2011

ROTTERDAM, The Netherlands, December 19, 2011 /PRNewswire/ –

arGEN-X, a biopharmaceutical company focused on the discovery and development of human
monoclonal antibodies from its proprietary SIMPLE Antibody(TM) platform, announced today
it has received a grant of EUR1.3 million to further advance its powerful discovery
platform for addressing challenging disease targets. The grant was awarded by the
Institute for the Promotion of Innovation by Science and Technology in Flanders (IWT), and
is the third award the Company has received from the institute, totalling EUR4.1 million
to date.

The SIMPLE Antibody(TM)platform is rapidly transforming the therapeutic antibody space
by enabling the production of multiple novel and diverse leads against complex soluble,
cell surface and highly conserved targets. The high quality of these leads allows the
rapid selection of fully human antibodies with superb functional potency and specificity.
arGEN-X can further increase the cytotoxic potency of these leads through its use of
POTELLIGENT(R) Technology, licensed from BioWa, Inc. in 2011.

The power of the SIMPLE Antibody(TM) platform is underscored by the rapid progress
arGEN-X made in its first biopharma collaboration in which it delivered a panel of unique,
diverse antibodies against a technically complex target provided by the partner in record
time. This success demonstrates how the SIMPLE Antibody(TM) platform can generate
antibodies with outstanding qualities, even against targets beyond the reach of other
antibody platforms.

arGEN-X has used the unique capabilities of the SIMPLE Antibody(TM) platform to
generate its own pipeline of therapeutic antibodies. The Company has five therapeutic
programs under development for the treatment of autoimmune disorders, inflammation and
oncology, with two now in formal preclinical development. arGEN-X’ most advanced program,
ARGX-110, addresses a clinically validated cell surface receptor implicated in
autoimmunity and cancer and has been shown in preclinical models to modulate target
function with unrivalled potency. arGEN-X expects to file an IND application for ARGX-110
in early 2013.

The Company plans to use the EUR27.5 million it raised recently in an oversubscribed
Series B financing round, to further enhance and leverage its platform and to advance and
expand its internal pipeline, positioning itself as a clear leader in the therapeutic
antibody space.

Prof. Dr. Hans de Haard, CSO of arGEN-X added: “Our SIMPLE Antibody(TM) platform is
unique in producing a phenomenal diversity of functional antibodies against complex
targets, particularly cell surface receptors and highly conserved proteins. This allows us
to identify therapeutic antibodies with previously unseen properties addressing key
disease areas. Today’s news, combined with our recent fund raising, provides us with the
financial resources to progress towards our goal of broadening the clinical utility of
fully human therapeutic antibodies.”

Note for the editor

About arGEN-X – http://www.arGEN-X.com

arGEN-X is a preclinical stage biopharmaceutical company with a broadly applicable,
proprietary SIMPLE Antibody(TM) platform with world-class qualities as a source of fully
human antibodies with therapeutic potential. It excels in delivering ultra-high potency,
functionally diverse antibodies against complex disease targets, especially cell surface
receptors and highly conserved proteins. Products generated using the SIMPLE Antibody(TM)
Platform have outstanding physicochemical properties, consistent manufacturability and a
seamless transition from discovery into development. This superior choice allows for more
stringent lead selection criteria, thereby increasing the probability of success later in
the drug development path. The Company has validated its platform on five human disease
targets to date and has broad patent claims in place covering its technology.

arGEN-X’ SIMPLE Antibody(TM) platform is based on the active immunisation of Camelids
with target antigens to deliver antibody variable regions that are perfectly matched to
those of human antibodies. The combination of those variable domains with the constant
domains of human antibodies, generates full size, human therapeutic antibodies.

The SIMPLE Antibody(TM) platform enjoys an independent, unencumbered patent position
and is free of target gatekeeping restrictions.

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

SIMPLE stands for Superior Immunodiversity with Minimal Protein Lead Engineering.

About IWT – Flanders – http://www.iwt.be

The agency for Innovation by Science and Technology (abbreviated as IWT) is the
government agency founded in 1991 by the Flemish Government to support technological
innovation projects in Flanders. In 2008 IWT distributed a total of EUR311 million in
subsidies for innovation projects to companies, organizations, research and educational
institutions in Flanders. In addition to financial support, IWT also assists companies by,
for instance, helping them find the right information or the right partners at home or
abroad and providing assistance with the preparation of projects for European programmes.
IWT also has an important coordination mandate aimed at promoting close cooperation among
all the actors involved in technological innovation in Flanders.

        For further information, please contact:

        Citigate Dewe Rogerson

        David Dible
        Mark Swallow
        Nina Enegren
        T: +44-207-282-2949/2948/1050
        E: david.dible@citigatedr.co.uk

        arGEN-X
        Tim Van Hauwermeiren, MSc, eMBA
        Chief Executive Officer
        T: +31-6-122-85-257
        E: tim.vh@arGEN-X.com

        Debbie Allen, Ph.D.
        Senior Director, Business Development
        T: +44-7974-979479
        E: dallen@arGEN-X.com

SOURCE arGEN-X


Source: PR Newswire