15. Collaboration Revenue
|
|
Year Ended December 31, |
||||
|---|---|---|---|---|---|---|
(in thousands of $) |
|
2024 |
|
2023 |
|
2022 |
Zai Lab |
|
4,348 |
|
5,533 |
|
4,238 |
AbbVie |
|
– |
|
30,000 |
|
– |
Other |
|
– |
|
– |
|
5,788 |
Total collaboration revenue |
|
4,348 |
|
35,533 |
|
10,026 |
For the years ended December 31, 2024, the collaboration revenue was generated under the agreement with Zai Lab. This note should be read alongside “Note 2.18 Collaboration and license agreements”.
AbbVie
In April 2016, the Company entered into a collaboration agreement with AbbVie to develop and commercialize ARGX-115 (ABBV-151). In October 2023, the Company achieved the second development milestone upon initiation of a non-pivotal clinical trial, triggering a $30 million payment.
Subject to the continuing progress of ARGX-115 (ABBV-151) by AbbVie, the Company is eligible to receive future development, regulatory and commercial milestone payments in aggregate amounts of up to $50 million, $190 million and $325 million, respectively, as well as tiered royalties on sales at percentages ranging from the mid-single digits to the lower teens, subject to customary reductions.