Genmab Reaches $3 Million Milestone Payment
News Oct 09, 2015
Genmab A/S has announced that it has reached a milestone in its DuoBody technology platform collaboration with Janssen Biotech, Inc. ("Janssen"), triggering a $3 million milestone payment. The milestone payment is for pre-clinical progress with a DuoBody product candidate targeting cancer.
Janssen has optioned 11 programs out of a total of 20 programs under the bispecific DuoBody platform collaboration with Genmab. Including the collaboration with Janssen, Genmab 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.