Genmab has entered an agreement with H. Lundbeck to create and develop human antibody therapeutics for central nervous system (CNS) disorders for three targets identified by Lundbeck. Lundbeck will have access to Genmab’s antibody creation and development capabilities, including its automated preclinical antibody screening and characterization and its stabilized IgG4 and UniBody therapeutic antibody platforms. Lundbeck will have an option to select antibodies for clinical development subject to the payment of milestones and single-digit royalties to Genmab upon successful development and commercialization. Genmab will have a similar option to select antibodies for development for cancer indications, paying milestones and royalties to Lundbeck.

Genmab will receive an upfront payment of $10.4 million and Lundbeck will fund the development of the antibodies. If all milestones are achieved, the total value of the agreement would be approximately $52.9 million, plus royalties.

“We are pleased to enter into this collaboration with Lundbeck. It gives Genmab the opportunity to leverage our antibody technology and expertise and to expand our pipeline into a new and exciting therapeutic area without assuming a financial obligation,” said Jan van de Winkel, chief executive officer of Genmab.”

“Genmab’s broad antibody development expertise and Lundbeck’s knowledge in CNS disorders is an ideal combination for developing new treatments in this important therapeutic area,” said Peter Hongaard Andersen, executive vice president, head of Research at Lundbeck. “The new partnership follows Lundbeck’s new R&D strategy to ensure we have the most efficient platform for the future discovery and development of drugs that will be able to help and treat biologically defined groups of patients with brain diseases. It is this type of drugs we expect will be in demand in the future.”