Lack of Partner Prompts Genmab A/S (GEN.CO) to Drop Zalutumumab
6/27/2011 8:39:09 AM
Genmab A/S (Copenhagen:GEN) announced today it will wind down the zalutumumab clinical program. After an extensive search during the first half of the year, the company has not found a satisfactory partnership to take zalutumumab forward in the current climate. As part of the company's disciplined approach and commitment to controlling costs, Genmab will wind down the zalutumumab program. Genmab will continue to pursue partnership leads, but will not invest further in the development of zalutumumab. Cost savings from the wind down will mostly be realized from 2012 and therefore the 2011 financial guidance will not be impacted.