COPENHAGEN, Denmark, Feb. 27 /PRNewswire-FirstCall/ -- Genmab A/S (CSE: GEN) announced today it has delivered a HuMax-TAC cell line to Serono, marking the first milestone in the companies’ development and commercialization agreement. The cell line could be used to manufacture HuMax-TAC for clinical trials. This milestone triggers a payment to Genmab of USD 1 Million.
HuMax-TAC is a fully human monoclonal antibody that may have therapeutic potential in the treatment of T-cell mediated diseases, such as autoimmune disorders, inflammatory and hyperproliferative skin disorders, as well as transplant rejection. HuMax-TAC is currently in pre-clinical trials.
About the agreement
In May 2005, Serono and Genmab signed an agreement under which Genmab granted Serono exclusive worldwide rights to develop and commercialize Genmab’s HuMax-TAC. Under the agreement, Genmab received an upfront payment of USD 2 million and is entitled to potential milestone payments of up to USD 38 million and royalties on sales from any eventual commercialization of the product. Serono is responsible for all future development for HuMax-TAC.
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, Amgen and Serono. 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. Genmab has operations in Copenhagen, Denmark, Utrecht, the Netherlands, and Princeton, New Jersey in the US. For more information about Genmab, visit http://www.genmab.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 update 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.
UltiMAb(R) is a trademark of Medarex, Inc.
Genmab(R); HuMax(R); HuMax-CD4(TM) and the Y-shaped Genmab logo are all trademarks of Genmab A/S.
Genmab A/S
CONTACT: Helle Husted, Director, Investor Relations, Genmab, T: +45 33 4477 30, M: +45 25 27 47 13, or e-mail: hth@genmab.com
Web site: http://www.genmab.com/
