Genmab and BliNK Biomedical Enter into Commercial License Agreement
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- Published on Friday, 12 July 2019 17:42
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Genmab and BliNK Biomedical have entered into a commercial license agreement to develop novel bispecific therapeutics based on BliNK Biomedical’s CD47 antibodies and Genmab’s DuoBody® Platform technology.
COPENHAGEN, Denmark I July 12, 2019 I Genmab A/S (Nasdaq Copenhagen: GEN) announced today that it has entered into an agreement with BliNK Biomedical for an exclusive commercial license to certain antibodies targeting CD47, for potential development and commercialization into novel bispecific therapeutics created via Genmab’s proprietary DuoBody Platform technology. This agreement supports Genmab’s established product pipeline strategy. Under the terms of the agreement, Genmab will pay BliNK Biomedical an upfront fee of USD 2.25 million. BliNK Biomedical is also eligible to receive up to approximately USD 200 million in development, regulatory and commercial milestone payments for each product, as well as tiered royalties on net sales.
“With this agreement the scope of product concepts under development at Genmab has been expanded. CD47 has shown potential as a target for cancer and we believe that a bispecific approach may open up potential for differentiated therapies. We are always looking to use our in-house expertise in novel ways; we look forward to seeing the results from the combination of Genmab’s DuoBody technology with a CD47 antibody from BliNK Biomedical,” said Jan van de Winkel, Ph.D., Chief Executive Officer of Genmab.
BliNK Biomedical is a privately-owned biopharmaceutical company based in Marseille, France, focused on discovery and development of therapeutic antibodies in oncology and immuno-oncology.
Genmab is a publicly traded, international biotechnology company specializing in the creation and development of differentiated antibody therapeutics for the treatment of cancer. Founded in 1999, the company has two approved antibodies, DARZALEX® (daratumumab) for the treatment of certain multiple myeloma indications, and Arzerra® (ofatumumab) for the treatment of certain chronic lymphocytic leukemia indications. Daratumumab is in clinical development for additional multiple myeloma indications, other blood cancers and amyloidosis. A subcutaneous formulation of ofatumumab is in development for relapsing multiple sclerosis. Genmab also has a broad clinical and pre-clinical product pipeline. Genmab's technology base includes a number of proprietary next generation antibody technologies Genmab has alliances with other leading pharmaceutical and biotechnology companies.