Leading the Way in Life Science Technologies

GEN Exclusives

More »

GEN News Highlights

More »
Aug 30, 2012

Genmab, Janssen Ink Maybe $1B Antibody Deal

  • Janssen Biotech is paying Genmab $55 million up front, and its parent Johnson & Johnson will make an additional DKK 475 million (about $80 million) investment in the Danish firm as part of a global license and development agreement for Genmab’s human anti-CD38 antibody daratumumab (HuMax®-CD38). Daratumumab is currently in early clinical development for the treatment of multiple myeloma, but Genmab says the antibody may have utility against other CD38-expressing cancers, including acute myeloid leukemia. The firm’s share price shot up nearly 20% as the markets opened to the news this morning.

    Under terms of the deal Janssen gets a worldwide license to develop and commercialize daratumumab as well as a backup human CD38 antibody. Genmab could also receive up to $1 billion in development, regulatory, and sales milestones, plus tiered double-digit sales royalties. Janssen will be responsible for all development and commercialization costs including those associated with two ongoing Phase I/II studies. The equity investment, at DKK 88 per share, is at a premium to Genmab’s closing share price yesterday of DKK 67.85

    The daratumumab deal follows on from a $3.5 million up-front DuoBody® technology collaboration signed by the firms just last month through which Genmab will generate up to 10 bispecific antibodies against multiple disease target combinations specified by Janssen.



Related content

Be sure to take the GEN Poll

Drug Price Hikes

Novum Pharma recently raised the price of an acne cream by over 3,900% in less than a year-and-a-half and Mylan increased price of EpiPen from $100 to $608 . Do you think pharmaceutical companies need to be subjected to price controls?

More »