Genmab receives $40M milestone payment in AbbVie collaboration

• Genmab (GMAB) reached the first milestone in its collaboration with AbbVie with a $40M milestone payment triggered by the first patient dosed in the Phase 3 study of subcutaneous epcoritamab versus investigator's choice of chemotherapy in patients with relapsed or refractory diffuse large B-cell lymphoma.
• Epcoritamab is being co-developed by Genmab and AbbVie.
• "We are very pleased that the first Phase 3 study of epcoritamab has been activated at multiple clinical sites and the first cancer patient has been dosed," CEO Jan van de Winkel commented.
• The milestone will be reflected in Genmab's 2021 guidance, to be published on Feb. 23, 2021.