Antibody deal with Janssen
17.07.2012 - When it comes to bispecific antibodies Genmab’s Duobody technology is becoming more and more popular, with Janssen Biotech now also reliant on it.
Danish Genmab A/S received an upfront payment of US$3,5m (DKK21m) from Janssen Biotech, Inc. – a Johnson & Johnson company from Horsham, Pennsylvania (USA). In return Genmab will create up to 10 panels for bispecific antibody production using its close to gold standard platform Duobody technology. No further details concerning the targeted diseases were revealed. All research will be fully funded by Janssen. Milestone and license payments of up to US$175m (DKK1.062m) for each product are additionally expected revenues – as are royalties on any product which will be commercialised.
After an unnamed pharmaceutical partner last December and Novartis last month, the Janssen deal is already the third and so far biggest agreement that Genmab could wrap up. The press announcement’s tone was therefore pretty confident: „Since the introduction of our Duobody platform in 2010, we have believed in its potential to become the preferred technology for next generation bispecific antibody therapeutics. Today's announcement is another indicator that the pharmaceutical industry recognises our leadership in the therapeutic antibody field“, said Jan van de Winkel, Chief Executive Officer of Genmab.
The Copenhagen company also stated that the deal likely will not have any material impact on its 2012 financial guidance.http://www.european-biotechnology-news.com/news/news/2012-03/genmabs-golden-cash-cow.html