Posted on 19/12/2006 in Pharmaceutical Company Product News GlaxoSmithKline (GSK) has announced that it has signed a global agreement with Genmab for the co-development and commercialisation of fully human monoclonal antibody HuMax-CD20 (ofatumumab).
The compound is currently in development for CD20 positive B-cell chronic lymphaocytic leukaemia and non-Hodgkin's lymphoma, in addition to undergoing phase II clinical trials for rheumatoid arthritis.
GSK will pay Genmab a license fee of DKK 582 million (52 million pounds) and will also purchase 4,471,202 ordinary shares in the company for DKK 2033 million, with the full potential value of the deal, dependent on the reaching of commercial milestones for cancer, autoimmune and inflammatory treatments.
In return, GSK will receive an exclusive global license to HuMax-CD20, in addition to other antibodies developed by Genmab with an affinity for the CD20 antigen and the CD20 Unibody that will be co-developed by the companies.
Dr Moncef Slaoui, chairman of research and development at GSK, commented that this partnership was "a significant step" for the two companies.
"By combining the skills and knowledge of Genmab in developing fully human antibodies, such as HuMax-CD20 and the substantial experience of GSK in clinical and commercial development, we hope to be able to bring this innovative and potentially valuable medicine to patients as soon as possible."
Last week, GSK announced that it had signed a global multi-target strategic partnership agreement with Epix Pharmaceuticals for the discovery, development and marketing of new pharmaceuticals targeting four G-protein coupled receptors.Other news stories from 19/12/2006
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