Genmab will wind down the zalutumumab program
No impact on 2011 financial guidance
Zalutumumab will be made available for future partnering
COPENHAGEN, Denmark | June 24, 2011 | Genmab A/S (Copenhagen:GEN – News) announced today it will wind down the zalutumumab clinical program.
After an extensive search during the first half of the year, the company has not found a satisfactory partnership to take zalutumumab forward in the current climate. As part of the company’s disciplined approach and commitment to controlling costs, Genmab will wind down the zalutumumab program. Genmab will continue to pursue partnership leads, but will not invest further in the development of zalutumumab. Cost savings from the wind down will mostly be realized from 2012 and therefore the 2011 financial guidance will not be impacted.
"We have always been focused to ending investment in zalutumumab so that we can concentrate our resources to progress other higher value programs in our pipeline. The product has shown good results in our clinical studies without any serious adverse effects and I believe it has a therapeutic potential; however, we were committed to taking a decision on the future of the product by the end of June and therefore we will now shelve zalutumumab but make it available for partnership should the opportunity arise at some point in the future." said Dr. Jan van de Winkel, CEO of Genmab.
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, Arzerra(r) (ofatumumab), was approved to treat refractory chronic lymphocytic leukemia 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: 50
Genmab will wind down the zalutumumab program
No impact on 2011 financial guidance
Zalutumumab will be made available for future partnering
COPENHAGEN, Denmark | June 24, 2011 | Genmab A/S (Copenhagen:GEN – News) announced today it will wind down the zalutumumab clinical program.
After an extensive search during the first half of the year, the company has not found a satisfactory partnership to take zalutumumab forward in the current climate. As part of the company’s disciplined approach and commitment to controlling costs, Genmab will wind down the zalutumumab program. Genmab will continue to pursue partnership leads, but will not invest further in the development of zalutumumab. Cost savings from the wind down will mostly be realized from 2012 and therefore the 2011 financial guidance will not be impacted.
"We have always been focused to ending investment in zalutumumab so that we can concentrate our resources to progress other higher value programs in our pipeline. The product has shown good results in our clinical studies without any serious adverse effects and I believe it has a therapeutic potential; however, we were committed to taking a decision on the future of the product by the end of June and therefore we will now shelve zalutumumab but make it available for partnership should the opportunity arise at some point in the future." said Dr. Jan van de Winkel, CEO of Genmab.
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, Arzerra(r) (ofatumumab), was approved to treat refractory chronic lymphocytic leukemia 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: 50
