Genmab Licences Antibody Development Technology to Novo Nordisk

   By Dominic Chopping 
 

Danish pharmaceutical group Genmab A/S (GEN.KO) Friday announced a commercial license deal with insulin maker Novo Nordisk A/S (NVO).

The deal sees Novo Nordisk make an upfront payment of $2 million to use Genmab's DuoBody technology platform, which is used to create and develop antibodies. These antibodies are usually developed for use in very specific and targeted cancer treatments, but this deal will see the platform used to develop antibodies that target a disease area outside of cancer therapeutics, the company said.

After an initial period of exclusivity, Novo Nordisk has an option to maintain exclusivity or take the licenses forward on a non-exclusive basis.

Genmab is entitled to potential development, regulatory and sales milestones of up to around $250 million for each exclusive license, or approximately $200 million for each non-exclusive license. In addition, Genmab will be entitled to single-digit royalties on sales of any commercialized products.

This agreement is not expected to have a material impact on Genmab's 2015 financial guidance.

-Write to Dominic Chopping at [e-mail]; Twitter: @WSJNordics

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