Genmab and Janssen Biotech, a Johnson & Johnson company, have entered an agreement under which Janssen gains an exclusive worldwide license to develop and commercialize daratumumab (HuMax-CD38), as well as a backup human CD38 antibody. Daratumumab, a human CD38 monoclonal antibody, is in development for multiple myeloma and may have potential in other cancer indications such as acute myeloid leukemia.
Genmab will receive an upfront license fee of $55 million and Johnson & Johnson Development Corp. (JJDC) will invest approximately $80 million for 5.4 million new shares of Genmab. Genmab is also eligible to receive as much as $1 billion in development, regulatory and sales milestones and royalties. Janssen will be responsible for all development costs.
“Janssen was one of the first companies to recognize the power and promise of monoclonal antibodies and today is a world leader in biologics; we look forward to applying that same expertise to daratumumab to help meet the needs of patients with multiple myeloma,” said William N. Hait, M.D., Ph.D., head of Janssen R&D, LLC. “Daratumumab is an exciting, innovative compound, and we are delighted to add it to our portfolio.”
“We are very pleased to partner with Janssen on another Genmab innovation and look forward to working with them to accelerate the development of daratumumab and to maximize the value of this product,” said Jan van de Winkel, Ph.D., chief executive officer of Genmab. “This agreement significantly strengthens our financial position, ensuring that Genmab can continue to develop much needed differentiated antibody therapeutics to help cancer patients in the future.”