argenx is a global biotechnology company focused on developing innovative antibody-based therapies for severe autoimmune diseases.
Tim, argenx was founded in a difficult time - 2008. What kept the company afloat in those early years, and how did you navigate the long journey before the more recent successes?
I believe it all comes down to the team. Argenx has always been built on teamwork, which is even reflected in our name, inspired by the ancient Greek myth of the Argonauts—an ambitious team on a bold journey to achieve the unthinkable. Our ambition was to create something from scratch, knowing that with the right people, we could achieve something meaningful. It was not clear from the outset that we would become what we are today. The goal was simply to start and build from there.
The company has evolved tremendously over time. We began as a technology platform, partnering with others to survive, before shifting to a model where we now take products from development all the way to market. That transition has been the most rewarding. The continuous evolution has kept things exciting, which is why I am still here.
Vyvgart has been a major breakthrough for treating autoimmune diseases. Could you explain what makes the drug unique?
Vyvgart follows a precise innovation strategy. In biotech, many companies push new technologies onto existing disease targets, but we believe in discovering new biology—finding novel ways to modulate the immune system to truly transform patient outcomes. If you look at oncology 20-25 years ago, treatments were limited to surgery and broad chemotherapy, much like how many autoimmune diseases are managed today. Our approach aims to bring autoimmune treatment into the modern age by targeting key biological pathways with precision therapies.
FcRn, the target of Vyvgart, is a fundamental part of the immune system. While we did not discover it—our academic collaborator did—we developed a highly effective molecule to precisely target it. This opens the door to treating over 100 autoimmune diseases, with three indications already approved and many more in development. The success of Vyvgart is a testament to the importance of academic collaboration.
Vyvgart is already approved for generalized myasthenia gravis (gMG), Chronic Inflammatory Demyelinating Polyneuropathy (CIDP), and Immune thrombocytopenia (ITP). Concretely, how does the drug improve the lives of these patients?
For gMG, the results have been remarkable. About 40% of patients in our trials became completely symptom-free, while 80% experienced a clinically meaningful improvement in muscle strength. Importantly, there were no significant safety concerns, making it a superior treatment option. In real-world use, more than 50% of patients report living symptom-free, essentially regaining the life they had before diagnosis.
In CIDP, which is a progressive disease leading to severe mobility loss, we saw a clinically meaningful response in 70% of patients. Around 60% regained lost function, and in 30%, the improvement was dramatic—some were even able to leave their wheelchairs. For ITP, we achieved a significant response in 50% of patients, stabilizing platelet levels and preventing dangerous bleeding episodes. Across all three indications, Vyvgart is proving to be a transformative treatment.
argenx has reported significant revenue growth. How do you plan to make use of these funds?
We are aggressively reinvesting in R&D, having allocated over $1 billion last year alone. Importantly, we are reaching a point where we expect to become profitable, which will allow us to execute our ambitious business plan without relying on external funding. Until now, we have raised nearly $4 billion on the Nasdaq, but moving forward, we should be able to self-finance our innovation pipeline.
Our focus remains on expanding the reach of Vyvgart while also developing new treatments. We are currently conducting 10 registrational studies and continue to explore additional autoimmune disease indications. The goal is to build a sustainable, innovation-driven pipeline that will deliver long-term value for patients and the company.
Can you share details on upcoming disease targets?
Beyond Vyvgart, we are looking at other key immune system mechanisms. One area of focus is the complement system, which, when dysregulated, causes severe autoimmune damage. We have developed a highly innovative molecule that selectively blocks the pathogenic part of complement while preserving its protective role in fighting infections. This molecule is already in Phase 3 trials for CIDP and another severe neuromuscular autoimmune disease, MMN.
Another promising candidate, ARGX-119, is in early Phase 2 trials targeting genetic myasthenia (congenital myasthenic syndrome), ALS, and SMA. These programs represent our commitment to expanding the impact of precision immunology treatments beyond FcRn and into other key pathways.
How do partnerships fit into your long-term strategy?
Partnerships are essential at every stage. The best biology is not developed in-house but discovered in academic labs around the world. Our approach is based on "co-creation," meaning we work closely with academic researchers at the right moment—when their discoveries are ready for true drug development. Every new program we bring into the clinic is born from this collaborative model.
Beyond research, our scaling strategy also relies on partnerships. We do not manufacture our own products or conduct clinical trials internally—these functions are outsourced to strategic partners. This allows us to stay focused on our innovation mission while leveraging world-class capabilities in manufacturing and clinical execution.
argenx has become a European biotech leader. What advice would you give to emerging European biotechs?
Ambition is key. Too often, European biotech companies sell their assets or exit early instead of going all the way. In the U.S., we have seen more companies push through to build long-term value, and Europe is now catching up. Companies like Genmab, argenx, and others are proving that it is possible to create a globally competitive biotech business from Europe.
Having role models helps. Many of our inspirations have been U.S. companies like Vertex, Regeneron, and Genentech, but Europe is now producing its own champions. The industry is maturing, and as more companies succeed, it will encourage the next generation to aim higher.
Where do you see argenx in 2030?
Our goal is to make five times more impact by 2030. We measure this by the number of patients whose lives we improve. Last year, we surpassed 10,000 patients. By 2030, we aim to reach 50,000. Achieving this means expanding beyond Vyvgart—we need at least 10 labeled indications and multiple molecules in our pipeline.
We are not just building a successful company; we are reshaping the treatment landscape for severe autoimmune diseases. The next five years will be critical in making this a reality.
