Genmab has reached a development milestone for ofatumumab (HuMax-CD20) under the terms of its collaboration with GlaxoSmithKline. The milestone triggers a $6 million payment to Genmab as a result of the first patient treated in the Phase II study of ofatumumab in relapsing remitting multiple sclerosis (RRMS).
"Our collaboration with GSK continues to progress as both companies work towards providing new treatment options for patients," said Lisa N. Drakeman, Ph.D., chief executive officer of Genmab. "We are pleased to begin treating patients in the first study of ofatumumab in RRMS, an unpredictable and debilitating disease."
Ofatumumab is a fully human, next generation monoclonal antibody that targets a distinct small loop epitope on the CD20 receptor on the surface of B-cells.