- Exclusive license from Bristol-Myers Squibb for human antibodies against CD19 target
- One-time USD 4 million licensing payment to Bristol-Myers Squibb
COPENHAGEN, Denmark, June 2, 2015 (GLOBE NEWSWIRE) -- Genmab A/S (Copenhagen:GEN), today announced it has entered into an agreement for an exclusive license from Bristol-Myers Squibb to a panel of human antibodies targeting CD19 together with associated intellectual property. The CD19 protein expressed on certain hematologic cancer cells is seen as a promising target for the treatment of these cancers. Genmab will make a one-time USD 4 million licensing payment to Bristol-Myers Squibb upon execution of the license. Other financial terms of the agreement were not disclosed. The deal is part of Genmab's strategy to create a broad pipeline of innovative therapeutic products, using the company's in house know-how and antibody expertise to create truly differentiated cancer therapeutics.
"CD19 is a clinically-validated target for therapy of certain blood cancers and this exclusive license allows us to create truly differentiated next-generation antibody drugs using our deep understanding of antibody biology, which could lead to new ways of treating cancer. Genmab's strength lies in our world-class antibody capabilities and our ability to turn science into medicine, which allows us to help patients whilst building a sustainably profitable business," said Jan van de Winkel, Ph.D., Chief Executive Officer of Genmab.
Today's agreement does not impact Genmab's 2015 financial guidance.
Genmab is a publicly traded, international biotechnology company specializing in the creation and development of differentiated human antibody therapeutics for the treatment of cancer. Founded in 1999, the company currently has one marketed antibody, Arzerra(r) (ofatumumab) for the treatment of certain chronic lymphocytic leukemia indications and daratumumab in clinical development for multiple myeloma and non-Hodgkin's lymphoma, in addition to other clinical programs, and an innovative pre-clinical pipeline. Genmab's technology base consists of validated and proprietary next generation antibody technologies - the DuoBody(r) platform for generation of bispecific antibodies, and the HexaBody(r) platform which creates effector function enhanced antibodies. Genmab's deep antibody expertise is expected to provide a stream of future product candidates. Partnering of selected innovative product candidates and technologies is a key focus of Genmab's strategy and the company has alliances with top tier pharmaceutical and biotechnology companies. For more information visit www.genmab.com.
Rachel Curtis Gravesen, Senior Vice President, Investor Relations & Communications
T: +45 33 44 77 20; M: +45 25 12 62 60; E: firstname.lastname@example.org
This Company Announcement contains forward looking statements. The words "believe", "expect", "anticipate", "intend" and "plan" and similar expressions identify forward looking statements. Actual results or performance may differ materially from any future results or performance expressed or implied by such statements. The important factors that could cause our actual results or performance to differ materially include, among others, risks associated with pre-clinical and clinical development of products, uncertainties related to the outcome and conduct of clinical trials including unforeseen safety issues, uncertainties related to product manufacturing, the lack of market acceptance of our products, our inability to manage growth, the competitive environment in relation to our business area and markets, our inability to attract and retain suitably qualified personnel, the unenforceability or lack of protection of our patents and proprietary rights, our relationships with affiliated entities, changes and developments in technology which may render our products obsolete, and other factors. For a further discussion of these risks, please refer to the risk management sections in Genmab's most recent financial reports, which are available on www.genmab.com. Genmab does not undertake any obligation to update or revise forward looking statements in this Company Announcement nor to confirm such statements in relation to actual results, unless required by law.
Genmab A/S and its subsidiaries own the following trademarks: Genmab(r); the Y-shaped Genmab logo(r); Genmab in combination with the Y-shaped Genmab logo(tm); the DuoBody logo(r); the HexaBody logo(tm); HuMax(r); HuMax-CD20(r); DuoBody(r); HexaBody(r) and UniBody(r). Arzerra(r) is a registered trademark of Novartis.
Company Announcement no. 26
CVR no. 2102 3884
1260 Copenhagen K