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news.Genmab has reached the second and third development milestones for ofatumumab under the terms of its collaboration with GlaxoSmithKline.
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The second milestone payment of the collaboration of DKK87.2 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 DKK87.2 million was triggered by the first patient receiving treatment in the Phase III rheumatoid arthritis (RA) program, which occurred in 2008.
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. Ofatumumab is being developed under a co-development and commercialization agreement between Genmab and GlaxoSmithKline (GSK).
Lisa Drakeman, CEO of Genmab, said: “The successful initiation of the ofatumumab RA and DLBCL programs are a testament to the cooperative spirit of our companies.”