Genmab Announces $3M Milestone Payment in DuoBody Platform Collaboration with Janssen

Genmab A/S

announced today it has achieved a milestone in its DuoBody technology platform collaboration with Janssen Biotech, Inc.

, triggering a $3 million milestone payment. The milestone payment is for pre-clinical progress with a DuoBody product candidate targeting cancer. Janssen has optioned 11 programs out of a total of 20 programs under the bispecific DuoBody platform collaboration with Genmab. Including the collaboration with Janssen, Genmab has five commercial partnerships for its DuoBody technology. "Bispecific antibodies continue to be one of the most exciting new therapeutic areas in the biotech industry.  Today's milestone in our DuoBody collaboration with Janssen marks the fifth program for which a clinical candidate has been selected and is another signal of the potential of the DuoBody technology platform to create products that could represent meaningful steps forward in the treatment of cancer," said Jan van de Winkel, Ph.D., Chief Executive Officer of Genmab. Today's news will not impact Genmab's 2015 financial guidance. About the DuoBody Technology Collaboration with Janssen Under the original July 2012 agreement, Janssen has the right to use the DuoBody technology to create panels of bispecific antibodies (up