Skip to main content
See the whole filing, with its images and exhibits
Contents

“Note 29—Commitments”

29.Commitments

At balance sheet date, there wereno commitments signed for the acquisition of property, plant and equipment.

In February 2019, and as amended in September 2020, the Company entered into a global collaboration and license agreement with Halozyme Therapeutics, Inc. Under the terms of the agreement, the Company will pay up to $124.0 million to achievement of specific regulatory and sales-based milestones related to VYVGART SC. This amount represents the maximum amount that would be paid if all milestones would be achieved but excludes variable royalty payments based on unit sales. Further, the Company will pay $12.5 million per target for future target nominations and potential future payments of up to $160.0 million per selected target subject to achievement of specified development, regulatory and sales-based milestones and up to $40.0 million subject to the achievement of additional, specified sales-based milestones. This amount represents the maximum amount that would be paid if all milestones would be achieved but excludes variable royalty payments based on unit sales.

The Company’s manufacturing commitments with Lonza, its drug substance manufacturing contractor, relate to the ongoing execution of the biologic license application (BLA) services for efgartigimod and its manufacturing activities related to the potential future commercialisation. In December 2018, the Company signed its first commercial supply agreement with Lonza related to the reservation of commercial drug substance supply capacity for efgartigimod. In the aggregate, the Company has outstanding commitments for efgartigimod under the commercial supply agreements of $361.8 million.

During 2022, Company signed an agreement with Fujifilm, for activities relating to the large-scale manufacturing of efgartigimod drug substance. In the aggregate, the Company has outstanding commitments for efgartigimod under the commercial supply agreement of $13.3 million.

As of December 31, 2023, the Company had a line of credit totalling to $7.2 million (€6.5 million) with the banks.

30.Audit fees

The following auditors’ fees were expensed in the consolidated statements of profit or loss and the consolidated statements of other comprehensive income (loss):

​ · ​ · ​ · ​ · ​ · ​ · ​ · ​ · ​ · ​
​ · ​ · Year Ended December 31,
Fees · 2023 · 2022 · 2021
​ · ​ · in thousands of $
Audit fees (1)$1,979$1,394$1,183
Audit-related fees​330​380​267
Tax fees (2)​—​—​79
Total$2,309$1,774$1,529
(1)Auditor services performed by Deloitte Accountants B.V. as the external auditor referred to in Section 1 of the Dutch Accounting Firms Oversight Act (Wta) as well as by the Deloitte network.
(2)Tax services performed by the Deloitte network.
31.Overview of consolidation scope

The parent company argenx SE is domiciled in the Netherlands. The Company, argenx SE, hastwo subsidiaries, argenx BV and argenx Benelux BV, based in Belgium. argenx BV hasten subsidiaries. Details of the Company’s consolidated entities at the end of the reporting period are as follows:

​ · ​ · ​ · ​ · ​ · ​
Name · Country · Participation
argenx SE​The Netherlands​100.00%
argenx BVBelgium100.00%
argenx Benelux BV​Belgium​100.00%
argenx US, Inc.USA100.00%
argenx Switzerland, SA​Switzerland​100.00%
argenx Japan KKJapan100.00%
argenx France SAS​France​100.00%
argenx Germany GmbH​Germany​100.00%
argenx Canada Inc.​Canada​100.00%
argenx UK Ltd.​United Kingdom​100.00%
argenx Netherlands Services B.V.​The Netherlands​100.00%
argenx Italy S.r.l.​Italy​100.00%
argenx Spain S.L.​Spain​100.00%
ContentsView on SEC.gov

The text of this filing, as the company filed it with the SEC, without its images or exhibits. This is not investment advice.