Genmab has reached a milestone in its DuoBody technology platform pact with Janssen Biotech, Inc., triggering a $3 million milestone payment. The milestone is related to preclinical progress with a DuoBody product candidate targeting two inflammatory mediators that play a key role in autoimmune diseases.
Under the amended agreement, Janssen is entitled to work on as many as ten additional programs and will be entitled to milestone and license payments of as much as $174 million to $219 million, based on the date each program is initiated.
"This is another milestone from our productive DuoBody platform collaboration with Janssen. This reflects rapid and robust progress in the development of potential products using our state-of-the art bispecific antibody technology," said Jan van de Winkel, Ph.D., chief executive officer of Genmab.