Genmab confirms Roche investment  

2002.06.07
Genmab confirms Roche is to invest USD 20 million in the biotech company

Genmab has confirmed in a press release that Swiss medical giant Roche is to invest DKK 170 million (USD 20 million) in a broad expansion of their current collaboration for the creation and development of human antibody therapeutic products for life-threatening and debilitating diseases. The expansion programme is to be coordinated by Roche's proteomics group and will focus on the company's commitment to the development of biologicals as innovative new products. Genmab, an offshoot of the US company Medarex, is currently building a DKK 125 million (USD 15 million) factory in Medicon Valley north of Copenhagen, which is planned to open by the end of 2004.

 

Under the current agreement Roche has access to Genmab's antibody development capabilities as well as its pre-clinical and clinical development capabilities and Genmab will receive milestone as well as royalty payments on successful products. In certain circumstances Genmab could obtain rights to develop products based on disease targets identified by Roche. If all goals are reached, the value of the collaboration could be as high as DKK 850 million (USD 100 million).

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