Genmab Reaches Further Milestone In Janssen DuoBody Agreement
Genmab has reached another milestone in its DuoBody technology platform collaboration with Janssen Biotech (Johnson & Johnson), triggering a US$1mn payment. The milestone is for achieving technical proof-of-concept for the second DuoBody product candidate. The DuoBody platform is an innovative platform for the discovery and development of bispecific antibodies (Abs) that may improve Ab therapy of cancer, autoimmune, infectious and central nervous system disease.
Under the agreement, Janssen has the right to use the DuoBody technology to create panels of bispecific Abs (up to ten DuoBody programmes) to multiple disease target combinations with Genmab research funded by Janssen. Genmab received an up-front payment of US$3.5mn (approximately DKK 21mn on the date of the agreement) from Janssen in July 2012, and will potentially be entitled to milestone and licence payments of up to approximately US$175mn (approximately DKK 1,062mn on the date of the agreement), as well as royalties for each commercialised DuoBody product. This latest development will not impact Genmab's 2013 financial guidance.
|Agreement Status:||Updated||Date Announced:||26 Aug 2013|
|Date Last Reported:||11 Dec 2012||Duration:|
|Est Total Value:||US$175mn||Investment To Date:|
|Agreement Type:||Commercialisation Development Research|
|Generic / Brand Name:|
|Therapeutic Area:||Antineoplastic and Immunomodulating Agents Central Nervous System General Anti-infectives Systemic|
|Indication:||Autoimmune diseases Cancer Central nervous system disorders Infectious diseases|
|Techonology/Field:||Antibody development Antibody technology|