Genmab A/S (GEN.CO) Strikes Antibody R&D Pact Worth $178.5 Million With Johnson & Johnson (JNJ)'s Janssen Biotech Inc.
7/13/2012 8:17:23 AM
Danish biopharma firm Genmab has agreed to collaborate with Janssen Biotech to create and develop antibodies using its DuoBody technology platform and will receive an upfront payment of $3.5 million, Genmab said. Under the terms of the deal, Janssen will fully fund the research to be done at Genmab, and Genmab will potentially be entitled to milestone and license payments of up to about $175 million for each product as well as royalties on any commercialized products, Genmab said late on Thursday. The deal with Janssen followed a collaboration agreement with Novartis in June to use Genmab's DuoBody technology.