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DuoBody® platform collaboration with Janssen expanded to include additional programs
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Genmab receives initial payment of $2 million
COPENHAGEN, Denmark I December 4, 2013 I Genmab A/S (OMX: GEN) announced today an expansion of its collaboration with Janssen Biotech, Inc. (“Janssen”) to create and develop bispecific antibodies using the DuoBody technology platform. The original agreement entitled Janssen to work on up to ten DuoBody programs. Under the terms of the amendment, Janssen is entitled to work on up to ten additional programs.
Genmab will receive an initial payment of $2 million (approximately DKK 11 million) from Janssen. For each of the ten additional programs that Janssen successfully initiates, develops and commercializes, Genmab will potentially be entitled to milestone and license payments of up to approximately $174 million (DKK 956 million) to $219 million (DKK 1.2 billion), depending on the date each program is initiated. In the most favorable scenario in which all ten additional programs are successfully initiated, developed and commercialized, Genmab would receive average milestone and license payments of approximately $191 million (DKK 1.0 billion) for each of the ten programs. In addition, Genmab will be entitled to royalties on sales of any commercialized products.
“Our DuoBody collaboration with Janssen has been very productive since we signed the initial agreement in July 2012. We are excited about the potential to work with Janssen on additional programs,” said Jan van de Winkel, Ph.D., Chief Executive Officer of Genmab.
This agreement does not materially impact Genmab’s 2013 financial guidance.
About the DuoBody Platform
The DuoBody platform is an innovative platform for the discovery and development of bispecific antibodies that may improve antibody therapy of cancer, autoimmune, infectious and central nervous system disease. Bispecific antibodies bind to two different epitopes either on the same, or on different targets (also known as dual-targeting) which may improve the antibodies’ specificity and efficacy in inactivating the disease targets. DuoBody molecules are unique in combining the benefits of bispecificity with the strengths of conventional antibodies which allows DuoBody molecules to be administered and dosed as other antibody therapeutics. Genmab’s DuoBody platform generates bispecific antibodies via a fast and broadly applicable process which is easily performed at standard bench, as well as commercial, manufacturing scale.
About Genmab A/S
Genmab is a publicly traded, international biotechnology company specializing in the creation and development of differentiated human antibody therapeutics for the treatment of cancer. Founded in 1999, the company’s first marketed antibody, ofatumumab (Arzerra®), was approved to treat chronic lymphocytic leukemia in patients who are refractory to fludarabine and alemtuzumab after less than eight years in development. Genmab’s validated and next generation antibody technologies are expected to provide a steady stream of future product candidates. Partnering of innovative product candidates and technologies is a key focus of Genmab’s strategy and the company has alliances with top tier pharmaceutical and biotechnology companies. For more information visit www.genmab.com.
SOURCE: Genmab
Post Views: 254
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DuoBody® platform collaboration with Janssen expanded to include additional programs
-
Genmab receives initial payment of $2 million
COPENHAGEN, Denmark I December 4, 2013 I Genmab A/S (OMX: GEN) announced today an expansion of its collaboration with Janssen Biotech, Inc. (“Janssen”) to create and develop bispecific antibodies using the DuoBody technology platform. The original agreement entitled Janssen to work on up to ten DuoBody programs. Under the terms of the amendment, Janssen is entitled to work on up to ten additional programs.
Genmab will receive an initial payment of $2 million (approximately DKK 11 million) from Janssen. For each of the ten additional programs that Janssen successfully initiates, develops and commercializes, Genmab will potentially be entitled to milestone and license payments of up to approximately $174 million (DKK 956 million) to $219 million (DKK 1.2 billion), depending on the date each program is initiated. In the most favorable scenario in which all ten additional programs are successfully initiated, developed and commercialized, Genmab would receive average milestone and license payments of approximately $191 million (DKK 1.0 billion) for each of the ten programs. In addition, Genmab will be entitled to royalties on sales of any commercialized products.
“Our DuoBody collaboration with Janssen has been very productive since we signed the initial agreement in July 2012. We are excited about the potential to work with Janssen on additional programs,” said Jan van de Winkel, Ph.D., Chief Executive Officer of Genmab.
This agreement does not materially impact Genmab’s 2013 financial guidance.
About the DuoBody Platform
The DuoBody platform is an innovative platform for the discovery and development of bispecific antibodies that may improve antibody therapy of cancer, autoimmune, infectious and central nervous system disease. Bispecific antibodies bind to two different epitopes either on the same, or on different targets (also known as dual-targeting) which may improve the antibodies’ specificity and efficacy in inactivating the disease targets. DuoBody molecules are unique in combining the benefits of bispecificity with the strengths of conventional antibodies which allows DuoBody molecules to be administered and dosed as other antibody therapeutics. Genmab’s DuoBody platform generates bispecific antibodies via a fast and broadly applicable process which is easily performed at standard bench, as well as commercial, manufacturing scale.
About Genmab A/S
Genmab is a publicly traded, international biotechnology company specializing in the creation and development of differentiated human antibody therapeutics for the treatment of cancer. Founded in 1999, the company’s first marketed antibody, ofatumumab (Arzerra®), was approved to treat chronic lymphocytic leukemia in patients who are refractory to fludarabine and alemtuzumab after less than eight years in development. Genmab’s validated and next generation antibody technologies are expected to provide a steady stream of future product candidates. Partnering of innovative product candidates and technologies is a key focus of Genmab’s strategy and the company has alliances with top tier pharmaceutical and biotechnology companies. For more information visit www.genmab.com.
SOURCE: Genmab
Post Views: 254
