Genmab Licenses Angiogenesis Targets from Bionomics
News Feb 15, 2006
Under the agreement, Genmab has acquired exclusive worldwide rights to eight proteins identified and characterized by Bionomics using its proprietary Angene® angiogenesis platform with potential utility in cancer and other diseases.
Under the terms of the deal, Bionomics will receive an upfront fee and additional fees upon the first target achieving specified preclinical and clinical milestones.
Bionomics will also receive milestone payments and royalties on product sales for each product that reaches the market.
The agreement represents the outcome of an earlier collaborative research and development partnership between the companies.
"We are pleased to exclusively license these targets from Bionomics, with which we have had an excellent working relationship since early 2002," said Lisa N. Drakeman, Ph.D., Chief Executive Officer of Genmab.
"We believe that inhibiting angiogenesis bears promise for the development of antibody therapeutic approaches in angiogenesis-related diseases including cancer. These targets enrich and further strengthen Genmab’s growing pre-clinical pipeline."
"We believe that Genmab is the ideal partner to develop these targets," commented Deborah Rathjen, Bionomics’ Managing Director and CEO.
"Genmab has rights to the key intellectual property required for the development of antibody therapeutics, and, with six products in the clinic, it has a strong record of clinical development."
Bionomics will retain rights to a large number of additional proprietary proteins it has discovered in its angiogenesis program, including, BNO69. Bionomics is continuing to develop BNO69 as a target for small molecule therapeutics for the treatment of breast cancer.
The agreement will not influence Genmab’s financial guidance for 2006 which will be presented on February 16, 2006.