Genmab reaches milestones in collaboration  

2004.09.17
Biotech company Genmab has reached two milestones in its collaboration with the Swiss pharmaceutical company Roche

Biotech company Genmab has reached two milestones in its collaboration with the Swiss pharmaceutical company Roche, Genmab announced Tuesday. If all targets are met, the agreement is worth USD 100 mn (approx. DKK 608 mn) for Genmab plus royalty payments.

 

The two milestones have been reached due to Genmab gaining proof of concepts for two of its human antibodies. The substances are each targeted towards their area of disease and thereafter there are four antibodies developed by Genmab which have reached that stage in the Roche collaboration. The agreement with Roche involves Genmab creating antibodies for a large number of disease targets that Roche has identified.

 

"We are very satisfied to have reached these important milestones for two more antibodies in our collaboration with Roche", says Genmab's managing director Lisa Drakeman to the Copenhagen Stock Exchange.

 

The news sent Genmab shares up 5.5% on the Copenhagen Stock Exchange. The share has risen by 70.6% since the beginning of the year. The news is reported by financial newspaper Børsen online.

 

Link > Genmab

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