The milestone payment arises from an ongoing research collaboration aimed at identifying human antibodies against intractable targets. Pepscan is responsible for using its Chemically linked Peptides on Scaffolds technology (CLIPS) to generate immunogens that mimic the protein targets to induce human antibodies against these intractable targets.
Under the terms of the collaboration agreement, Pepscan is eligible to receive additional payments from Genmab upon the achievement of certain development and regulatory milestones. Pepscan is also eligible to receive royalties on potential sales of any therapeutics developed as a result of the collaboration.
Rob Meloen, chief scientific officer of Pepscan, said: “The achievement of this milestone further validates Pepscan’s CLIPS platform. We are pleased to see the significant progress that has been made in the collaboration with Genmab.”