Summary: Genmab has licensed zanolimumab to TenX Biopharma, Inc.
Copenhagen, Denmark; February 4, 2010 - Genmab A/S (OMX: GEN) announced today
that it has closed a license agreement under which Genmab has granted exclusive
worldwide rights to develop and commercialize zanolimumab (HuMax-CD4(R)) to TenX
Biopharma, Inc.
Under the terms of the agreement, Genmab receives a payment of USD 4.5 million
and will be entitled to milestones and royalties on sales of zanolimumab. TenX
Biopharma will be responsible for all future costs of developing, manufacturing
and commercializing zanolimumab.
“Genmab is pleased to find a partner who wishes to take zanolimumab forward in
development,” said Lisa N. Drakeman, Ph.D., Chief Executive Officer. “This is
good news for patients who may one day benefit from treatment with zanolimumab.”
“Zanolimumab has promise for treatment of patients with T cell cancers, and
potential in other cancer types for which existing therapies are inadequate”,
said Gardiner F.H. Smith, Chief Executive Officer of TenX Biopharma. “We are
building a pipeline of new medicines for high unmet need, with a focus on the
patient through business efficiency.”
Asher Nathan, Managing Partner of Zoticon Bioventures, and lead investor in
TenX, said “TenX and zanolimumab represent the fourth late stage drug funding
which we've led in the past two years. I'm delighted that this important
product will be available in the future, and look forward to the management team
at TenX continuing to build value with novel cancer therapeutics.”
About Genmab A/S
Genmab is a leading international biotechnology company focused on developing
fully human antibody therapeutics for the potential treatment of cancer.
Genmab's world class discovery and development teams are using cutting-edge
technology to create and develop products to address unmet medical needs. Our
primary goal is to improve the lives of patients who are in urgent need of new
treatment options. For more information on Genmab's products and technology,
visit 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. For a
further discussion of these risks, please refer to the section “Risk Management”
in Genmab's Annual Report, which is available on www.genmab.com. Genmab does
not undertake any obligation to update or revise forward looking statements in
this press release nor to confirm such statements in relation to actual results,
unless required by law.
Genmab(R); the Y-shaped Genmab logo(R); HuMax(R); HuMax-CD20(R); HuMax-EGFr(TM);
HuMax-IL8(TM); HuMax-TAC(TM); HuMax-HepC(TM); HuMax-CD38(TM); HuMax-CD32b(TM);
HuMax-TF(TM); HuMax-Her2(TM); HuMax-VEGF(TM) and UniBody(R) are all trademarks
of Genmab A/S. Arzerra(TM) is a trademark of GlaxoSmithKline.
Contact: Helle Husted, Vice President, Investor Relations, T: +45 33 44 77 30,
M: +45 25 27 47 13, E: h.husted@genmab.com
Investor News No. 1/2010
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