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Dec 19, 2006

Genmab and GSK Sign Deal Potentially Worth $2.1B

  • GlaxoSmithKline (GSK) and Genmab signed a worldwide agreement to co-develop and commercialize GenMab’s HuMax-CD20™ (ofatumumab). HuMax-CD20 is a fully human Mab in late-stage development for CD20 positive B-cell chronic lymphocytic leukemia and follicular non-Hodgkin's lymphoma and in Phase II for rheumatoid arthritis.

    If full commercialization is achieved in cancer and various autoimmune and inflammatory diseases, the total potential value of this agreement could exceed $2.1 billion, notes the companies. GSK will invest approximately $357 million to purchase 4,471,202 Genmab ordinary shares. Genmab will also receive a license fee of approximately $102 million. The companies also expect milestone payments totaling $ 1.6 billion and development, commercial manufacturing, and commercialization costs.

    Genmab will be responsible for development costs until 2008, including costs of the two ongoing late-stage oncology studies. After this, development costs will be shared equally between GSK and Genmab.

    GSK will receive an exclusive worldwide license to HuMax-CD20 and will be solely responsible for the manufacturing and commercialization of HuMax-CD20. Genmab will be entitled to receive tiered double-digit royalties on global sales of HuMax-CD20.

    GSK will also receive exclusive worldwide licenses any other antibodies with affinity for the CD20 antigen that Genmab may develop. The company will also have an exclusive option to a CD20 UniBody™ to be developed in collaboration with Genmab.

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Scientifically Studying Ecstasy

MDMA (commonly known as the empathogen “ecstasy”) is classified as a Schedule 1 drug, which is reserved for compounds with no accepted medical use and a high abuse potential. Two researchers from Stanford, however, call for a rigorous scientific exploration of MDMA's effects to identify precisely how the drug works, the data from which could be used to develop therapeutic compounds.

Do you agree that ecstasy should be studied for its potential therapeutic benefits?

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