Genmab Holding B.V. a subsidiary of Genmab A/S, entered into an agreement to purchase antibodies and related patents from iDD Biotech SAS. The pre-clinical stage antibodies are directed to DR5, also known as Trail Receptor 2 (TRAIL-R2), an emerging cancer target.
Under the terms of the agreement, Genmab is expected to pay iDD Biotech EUR 2.5 million up front. Future payments range from a minimum of EUR 3.5 million to potentially EUR 101.5 million in development and sales milestones and single-digit royalties on commercialized products, according to the company.
“We are pleased to add this exciting target and these unique DR5 antibodies to our expanding list of pre-clinical assets. This move provides Genmab with another opportunity to create potential next-generation antibody drugs which could lead to new ways of treating cancer,” said Jan van de Winkel, Ph.D., chief executive officer of Genmab said in a statemen.
The agreement does not impact Genmab’s 2015 financial guidance.