Genmab A/S (GEN.CO) Gets $8 Million Milestone Payment In Pact With Janssen Biotech Inc., Improves 2013 Guidance
11/26/2013 6:55:42 AM
Genmab Reaches First Milestone in Daratumumab Collaboration With Janssen & Improves 2013 Financial Guidance
COPENHAGEN, Denmark, Nov. 26, 2013 (GLOBE NEWSWIRE) -- Genmab A/S (GEN.CO) announced today it has reached the first milestone in its daratumumab collaboration with Janssen Biotech, Inc. ("Janssen"). The milestone was triggered by progress in the clinical development of daratumumab. Genmab will receive a USD 8 million milestone payment from Janssen in connection with this event.
"Since the inception of our agreement with Janssen, we have reported encouraging data from two clinical studies of daratumumab and have started one new study. We are pleased to reach the first milestone in this productive collaboration and look forward to making further progress with daratumumab," said Jan van de Winkel, Ph.D., Chief Executive Officer of Genmab.
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