Date: 2016-04-19
Type of information: Milestone
Compound: anti DR5 antibodies
Company: Genmab (Denmark) IDD Biotech (France)
Therapeutic area: Cancer - Oncology
Type agreement: product acquisition
Action mechanism:
Disease:
Details: * On March 18, 2015, Genmab announced that its subsidiary Genmab Holding B.V. entered into an agreement to purchase antibodies and related patents and know-how from iDD Biotech SAS. The pre-clinical stage antibodies are directed to DR5, also known as Trail Receptor 2 (TRAIL-R2), an emerging cancer target. This acquisition of antibody assets is synergistic with Genmab's strategy to create a broad pipeline of differentiated therapeutic products and to leverage its deep antibody expertise to create leapfrog drugs, as it builds a sustainable business.
Financial terms: Under the terms of the agreement, Genmab will pay iDD Biotech an upfront fee of € 2.5 million. Future payments range from a minimum of € 3.5 million to potentially € 101.5 million in development and sales milestones and single-digit royalties on commercialized products. This agreement does not impact Genmab's 2015 financial guidance.
Latest news: * On April 19, 2016, iDD biotech announced the achievement of the first milestone under the agreement signed one year ago with Genmab. Genmab has selected iDD biotech’s antibody as a clinical candidate for further development.
Under the terms of the agreement, Genmab will pay iDD Biotech a fee of € 3.5 million.
