GlaxoSmithKline and Genmab have entered a worldwide agreement to co-develop and commercialize HuMax-CD20, a human monoclonal antibody in late stage development for CD20 positive B-cell chronic lymphocytic leukemia (B-CLL) and follicular non-Hodgkin's lymphoma (NHL) and in Phase II for rheumatoid arthritis (RA). The agreement is subject to review under the Hart-Scott-Rodino Act.
Under the terms of the agreement, Genmab will receive a license fee of approximately $102 million, and GSK will invest approximately $357 million in Genmab. The potential value of this agreement, in the event of commercial success in cancer and various autoimmune and inflammatory diseases, could exceed $2.1 billion. Genmab will also be entitled to receive tiered royalties on global sales of HuMax-CD20.
GSK will receive an exclusive worldwide license to HuMax-CD20 as well as other antibodies with affinity for the CD20 antigen, which Genmab may develop. GSK will also have an exclusive option to a CD20 UniBody to be developed in collaboration with Genmab. The two companies will co-develop HuMax-CD20. Genmab will be responsible for development costs until 2008, including two ongoing late-stage oncology studies after which development costs will be shared. GSK will be solely responsible for the manufacturing and commercialization of HuMax-CD20.
Genmab will have an option to co-promote HuMax-CD20 in a targeted oncology setting in the U.S. and in the Nordic region. Should this be undertaken, Genmab will have the option co-promote Bexxar and Arranon in the U.S. and Atriance in the Nordic region.
Dr. Moncef Slaoui, chairman of R&D, GSK, commented, "We believe that this alliance is a significant step for GSK and Genmab. By combining the skills and knowledge of Genmab in developing fully human antibodies, such as HuMax-CD20, and the substantial experience of GSK in clinical and commercial development, we hope to be able to bring this innovative and potentially valuable medicine to patients as soon as possible."
GSK, Genmab Enter Global HuMax-CD20 Pact
Published December 19, 2006
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