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).
15.09.2014 Jean Claude Juncker, the European Commission President-elect revealed his new Commissioners last week, whilst announcing a change in the units dealing with medicines, medical devices and health technology.
12.09.2014 The 2011 collaboration of Boehringer Ingelheim and Eli Lilly is bearing fruit. An insulin biosimilar developed through the partnership has now been approved in Europe - the first-ever generic version of this class.
09.09.2014 In the midst of the hustle and bustle of the European Respiratory Society’s International Congress 2014, Astrazeneca quietly announced the disappointing results of its latest benralizumab study.
29.08.2014 Just a week ago, Glaxosmithkline defused the WHO’s claim that an Ebola vaccine could be ready by 2015. Now, the British company’s own candidate vaccine is to be rushed to human trials with the help of funding from an international consortium.
24.08.2014 Germany's Morphosys is licensing a preclinical bi-specific antibody for the treatment of prostate cancer from Emergent Biosolutions. The US developer will rake in up to €138m for the commercialisation rights to the compound.
20.08.2014 Biopharmaceutical contract manufacturer Fujifilm Diosynth Biotechnologies is expanding its cell culture manufacturing capacity further with a new 2,000l single-use bioreactor at the company’s site in Billingham, UK.