Genmab Achieves $3M Janssen Milestone

Genmab has reached a milestone in its collaboration with Janssen Biotech, triggering a $3 million milestone payment for preclinical progress with a DuoBody product candidate targeting cancer.
To date, Janssen has optioned 11 programs out of 20 under the bispecific DuoBody platform collaboration with Genmab. Genmab currently has five commercial partnerships for its DuoBody technology.

“This milestone is another step in the continued validation of our DuoBody technology. Our technology collaborations are a key part of Genmab’s strategy to generate diverse revenue streams and we are very pleased with the continued rapid progress of the DuoBody programs in our collaboration with Janssen,” said Jan van de Winkel, Ph.D., Chief Executive Officer of Genmab.

Under the original July 2012 agreement, Janssen has the right to use the DuoBody technology to create panels of bispecific antibodies (up to 10 against multiple disease targets. Genmab received $3.5 million upfront and is entitled to milestone and license payments of as much as $175 million, as well as royalties.