- Genmab A/S (OTCPK:GNMSF) (GMXAY) earns a $3M milestone payment from collaboration partner Janssen Biotech (JNJ +0.3%) triggered by its pre-clinical progress on a DuoBody product candidate targeting cancer.
- Janssen has optioned 11 programs out of a total of 20 under its collaboration with Genmab. Janssen is one of five commercial partnerships Genmab has established for its DuoBody technology.
- Under the companies' original agreement that was inked in July 2012, Janssen has the right to use the DuoBody technology for up to 10 programs across a range of diseases. In addition to an upfront fee of $3.5M, Genmab is eligible to receive up to ~$175M in milestones and license payments. Under the terms of a contract amendment signed in December 2013, Janssen may work on an additional 10 programs. In addition to a $2M upfront fee, Genmab could potentially earn up to $191M in milestone and license payments for each additional program that Janssen commercializes.
- DuoBody is an innovative platform for the discovery and development of bispecific antibodies (they bind to two sites instead of just one) that could potentially improve antibody therapy across a range of diseases.