COPENHAGEN, Denmark and KING OF PRUSSIA, Pa., Nov. 20 /PRNewswire-FirstCall/ -- Genmab A/S (CSE: GEN) and Cytokine PharmaSciences, Inc. announced today that Genmab has licensed rights to the MIF receptor target from Cytokine PharmaSciences. Genmab intends to develop therapeutic human antibodies to the licensed target. Details of the agreement were not disclosed.
“We are enthusiastic about this target, especially as there has been positive proof of concept data in experimental animal models,” said Lisa N. Drakeman, Ph.D., Chief Executive Officer of Genmab.
Denny Willson, president and CEO of Cytokine PharmaSciences, stated: “Genmab is a world-class company in the area of developing human antibody therapeutics. We are pleased to entrust our target to an organization of their caliber.”
About Genmab A/S
Genmab A/S is a biotechnology company that creates and develops human antibodies for the treatment of life-threatening and debilitating diseases. Genmab has numerous products in development to treat cancer, infectious disease, rheumatoid arthritis and other inflammatory conditions, and intends to continue assembling a broad portfolio of new therapeutic products. At present, Genmab has multiple partnerships to gain access to disease targets and develop novel human antibodies including agreements with Roche and Amgen. A broad alliance provides Genmab with access to Medarex, Inc.'s array of proprietary technologies, including the UltiMAb(R) platform for the rapid creation and development of human antibodies to virtually any disease target. In addition, Genmab has developed UniBody(TM), a new proprietary technology that creates a stable, smaller antibody format. Genmab has operations in Copenhagen, Denmark, Utrecht, the Netherlands, Princeton, New Jersey, US and Hertfordshire in the United Kingdom. For more information about Genmab, visit www.genmab.com.
About Cytokine PharmaSciences, Inc.
Cytokine PharmaSciences is a biopharmaceutical company located in King of Prussia (near Philadelphia), Pennsylvania. The company licenses technologies from academia and other sources, develops products from those technologies and outlicenses the products to third parties for marketing. For more information, go to www.cytokinepharmasciences.com.
This press release contains forward-looking statements. The words “believe,” “expect,” “anticipate,” “intend” and “plan” and similar expressions identify forward looking statements. Actual results or performance may differ materially from any future results or performance expressed or implied by such statements. The important factors that could cause our actual results or performance to differ materially include, among others, risks associated with product discovery and development, uncertainties related to the outcome and conduct of clinical trials including unforeseen safety issues, uncertainties related to product manufacturing, the lack of market acceptance of our products, our inability to manage growth, the competitive environment in relation to our business area and markets, our inability to attract and retain suitably qualified personnel, the unenforceability or lack of protection of our patents and proprietary rights, our relationships with affiliated entities, changes and developments in technology which may render our products obsolete, and other factors. Genmab is not under an obligation to up-date statements regarding the future following the publication of this release; nor to confirm such statements in relation to actual results, unless this is required by law.
Genmab(R); the Y-shaped Genmab logo(R); HuMax(R); HuMax-CD4(R); HuMax- EGFr(TM); HuMax-Inflam(TM); HuMax-CD20(TM); HuMax-TAC(TM); HuMax-HepC(TM), HuMax-CD38(TM); and UniBody(TM) are all trademarks of Genmab A/S. UltiMAb(R) is a trademark of Medarex, Inc.
Genmab A/S
CONTACT: Helle Husted, Director, Investor Relations, T: +45-33-44-77-30,M: +45-25-27-47-13, hth@genmab.com; or Dennis F. Willson, President & CEOof Cytokine PharmaSciences, Inc., +1-610-687-1776 ext. 211
