COPENHAGEN, January 21 /PRNewswire/ --
- Summary: Genmab has Achieved two Development Milestones in its Ofatumumab Collaboration with GlaxoSmithKline
Genmab A/S (OMX: GEN) announced today it has reached the second and third development milestones for ofatumumab (HuMax-CD20(R)) under the terms of its collaboration with GlaxoSmithKline (GSK).
The second milestone payment of the collaboration of DKK 87.2 million was triggered by treatment of the first patient in the Phase II study of ofatumumab in Diffuse Large B-Cell Lymphoma (DLBCL), which occurred in 2007. The third milestone payment of DKK 87.2 million was triggered by the first patient receiving treatment in the Phase III rheumatoid arthritis (RA) program, which occurred in 2008.
Genmab achieved the first development milestone payment of DKK 116.3 million under the GSK collaboration in June, triggered by positive efficacy results in the Phase II RA study.
Ofatumumab is an investigational, fully human, next generation monoclonal antibody that targets a distinct small loop epitope on the CD20 receptor on the surface of B-cells. This epitope is different to the other anti-CD20 antibodies currently available or in development. Ofatumumab is being developed under a co-development and commercialization agreement between Genmab and GlaxoSmithKline.
"Genmab and GSK have worked hard to expand development with ofatumumab since our collaboration began in December 2006," said Lisa N. Drakeman, Ph.D., Chief Executive Officer of Genmab. "The successful initiation of the ofatumumab RA and DLBCL programs are a testament to the cooperative spirit of our companies."
About Genmab A/S
Genmab is a leading international biotechnology company focused on developing fully human antibody therapeutics for unmet medical needs. Using unique, cutting-edge antibody technology, Genmab's world class discovery and development teams have created and developed an extensive pipeline of products for potential treatment of a variety of diseases including cancer and autoimmune disorders. As Genmab advances towards a commercial future, we remain committed to our primary goal of improving the lives of patients who are in urgent need of new treatment options. For more information on Genmab's products and technology, 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 up-date 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.
Genmab(R); the Y-shaped Genmab logo(R); HuMax(R); HuMax-CD4(R); HuMax-CD20(R); HuMax-EGFr(TM); HuMax-IL8(TM); HuMax-TAC(TM); HuMax-HepC(TM); HuMax-CD38(TM); HuMax-CD32b(TM) and UniBody(R) are all trademarks of Genmab A/S.
Stock Exchange Release no. 02/2008
Contact: Helle Husted, Sr. Director, Investor Relations, T: +45-33-44-77-30, M: +45-25-27-47-13, E: hth@genmab.com
Contact: Helle Husted, Sr. Director, Investor Relations, T: +45-33-44-77-30, M: +45-25-27-47-13, E: hth@genmab.com
Comments