News

Janssen enters deal with Genmab
Enlarge image

BusinessDenmarkUK

Janssen enters deal with Genmab

31.08.2012 - In a deal worth up to US$1.1bn Janssen Biotech Inc has licensed the human monoclonal antibody daratumumab from Danish Genmab A/S.

Janssen will pay US$55m up front to gain an exclusive worldwide license to develop and commercialise the patented fully human monoclonal antibody daratumumab and a backup CD38 antibody. On top of that, its parent Johnson & Johnson will invest additional US$80m in the Danish firm. After the issue of the new shares, the Horsham-based US company will own 10.7% of Genmab's share capital, the company said. The total potential agreement value including upfront payment, equity investment and milestones is in excess of US$1.1bn. Genmab could also be entitled to tiered double digit royalties. 

The human monoclonal antibody daratumumab targets the CD38 molecule which is highly expressed on the surface of multiple myeloma cells. The monoclonal antibody is currently in development for the rare cancer multiple myeloma  and may have potential in other cancer indications such as acute myeloid leukemia. 

“Much had been anticipated from a licensing deal for daratumumab and we believe this deal has more than met the expectation,” Nomura Code analyst Samir Devani said in a note to investors. The deal led Genmab cut its full-year operating loss forecast between US$24m and US$32m (DKK140m to DKK190m) from US$34m to US$42m (DKK200m to DKK250m) and to raise its guidance for 2012 revenue to US$73m to US$78m (DKK435m to DKK460m) from US$63m to US$67m (DKK375m to DKK400m).

It's the second deal with Janssen Biotech in this year. In July, Janssen had licensed Genmab's duobody technology.

FundingEU

11.07.2014 Among the seven newly launched Joint Technology Initiatives (JTI) of Horizon2020 are two with deep roots in biotech: IMI is going into its second round while the newly established Bio-based Industries partnership invests in bioeconomy.

Stock marketNetherlandsUKBelgium

10.07.2014 Not one but two biopharma companies are seeking entry into the stock market: After Abzena raised €25m in an IPO earlier this week, Argen-x has followed suit and sold shares worth €40m.

M&AUKIreland

08.07.2014 Abbvie is determined to bring home British rare disease specialist Shire in a merger worth £30.1bn (€37.9bn). So far, Shire has rejected all offers from the US company.

M&ASwitzerland

04.07.2014 Genentech, a member of Swiss Roche Group, is set to acquire US-biotech Seragon Pharmaceuticals Inc. With the move, Genentech will obtain the rights to investigational breast cancer treatments.

M&AFranceGermany

03.07.2014 Nicox S.A. is stretching beyond the European market: The French eye health specialist is set to acquire Aciex Therapeutics Inc., a US-based pharma company with several ophthalmic therapeutics nearing market maturity.

FinanceBelgium

01.07.2014 Belgian antibody specialist Ablynx has raised €41.7m through a private placement of new shares and plans on boosting their range of nanobodies in development.

BioeconomyBelgiumUK

30.06.2014 Building on a £1.2m financing round, Celtic Renewables partners with a Belgian pilot plant to bring its bio-fuel made from whisky production residue to an industrial scale.

ConventionEUUK

25.06.2014 Sun, celebrities and a scandal - the world’s largest biotech convention is getting off to an explosive start in San Diego, California.

InvestmentGermanyNetherlands

24.06.2014 Bayer Healthcare is getting back into gene therapy with a US$252m deal aimed at the development of a haemophilia A treatment.

InvestmentNetherlands

20.06.2014 Tomtom founder Pieter Geelen invests in Dutch biotech Ocello, the company behind a 3D mapping technology used for predicting drug behaviour in patients.

Events

All Events

Current issue

All issues

Product of the week

Products

Stock list

All quotes

TOP

  • SERODUS (N)3.05 NOK7.02%
  • SUMMIT (UK)4.03 GBP3.87%
  • DEINOVE (F)13.32 EUR2.46%

FLOP

  • ANTISOMA (UK)1.32 GBP-14.84%
  • XENETIC BIOSCIENCES (UK)6.00 GBP-14.29%
  • ALMIRALL (E)11.07 EUR-7.13%

TOP

  • SANTHERA (CH)70.65 CHF114.1%
  • CELLECTIS (F)13.54 EUR112.6%
  • ADDEX (CH)4.54 CHF108.3%

FLOP

  • THROMBOGENICS (B)8.51 EUR-51.5%
  • MERCK KGAA (D)63.67 EUR-50.6%
  • VERONA PHARMA (UK)1.20 GBP-42.9%

TOP

  • SANTHERA (CH)70.65 CHF3111.4%
  • GW PHARMACEUTICALS (UK)443.50 GBP843.6%
  • PAION (D)2.71 EUR310.6%

FLOP

  • CYTOS (CH)0.24 CHF-93.1%
  • EVOCUTIS (UK)0.21 GBP-92.6%
  • THROMBOGENICS (B)8.51 EUR-73.6%

No liability assumed, Date: 12.07.2014