Genmab A/S Moves Cancer Drug Pact To Novartis AG From GlaxoSmithKline
November 3, 2014
By Krystle Vermes, BioSpace.com Breaking News Staff
Denmark-based Genmab A/S announced today that it has agreed with GlaxoSmithKline and Novartis Pharma AG to transfer its ofatumumab collaboration to Novartis. The collaboration originally involved GlaxoSmithKline, and this transfer is not expected to impact Genmab’s financial guidance for the remainder of 2014.
Ofatumumab is a monoclonal antibody that targets the CD20 molecule found on the surface of lymphocytic leukemia cells and normal B lymphocytes. Genmab, which was founded in 1999, has been using the antibody for the treatment of certain chronic lymphocytic leukemia indications.
"The collaborations with Novartis and GSK for this innovative therapeutic antibody will help ofatumumab reach its fullest potential, while improving cash flows," said Jan van de Winkel, chief executive officer of Genmab.
Once the collaboration has been completely transferred, Genmab will be able to develop other CD20 products. Upon the transfer, Novartis can develop and commercializeofatumumab in oncology indications. GlaxoSmithKline will continue to develop and commercialize the drug for autoimmune indications. The transaction is expected to close in the first half of 2015.
Collaborating for Further Development
Back in September, Genmab announced a collaborationwith Seattle Genetics, Inc., to develop an additional antibody-drug conjugate. Genmab paid an upfront fee of $11 million for exclusive rights to Seattle Genetics’ ADCtechnology with Genmab's HuMax-AXL, an antibody targeting AXL in multiple types of solid cancers.
"This new collaboration with Seattle Genetics adds another ADC program to our innovative pre-clinical pipeline of antibodies developed using the latest technological advances in cancer therapeutics,” said Winkel at the time of the announcement. “Pre-clinical work identified AXL as an excellent target for an ADC therapeutic approach. Accessing state-of-the art technology of companies such as Seattle Genetics who are experts in their field provides another means for Genmab to develop differentiated cancer therapeutics while retaining maximal ownership of our therapeutic products."
HuMax-AXL-ADC is an antibody-drug conjugate that combines high affinity human monoclonal antibody against AXL with Seattle Genetics’ cytotoxic drug.
"This collaboration with Genmab further extends the reach of our industry-leading ADC technology for use with novel oncology targets, while providing us with a compelling financial value proposition as the program advances," said Natasha Hernday, vice president of Corporate Development at Seattle Genetics. "Genmab's impressive track record in the development of antibody-based therapies for the treatment of cancer, including an ADC in a Phase I clinical trial for solid tumors utilizing Seattle Genetics technology from our first agreement, make them a strong partner for this new collaboration."