Genmab will receive a license fee of $20 million, and Serono will make a $50 million investment in Genmab common stock. If all milestone targets are reached, Genmab will receive $215 million in total payments. Genmab will also receive royalties on sales of the drug, and Serono will now take responsibility for all future development costs for the drug.
The compound is currently being evaluated in a pivotal phase III clinical trial for cutaneous (skin related) T-cell lymphoma, and has fast track designation from the FDA.
HuMax-CD4 is also being studied in a phase II trial for non-cutaneous (skin related) T-cell lymphoma (NCTCL).
“Serono’s proficiency in bringing biotechnology products to market as well as their established presence in highly specialized dermatology clinics, which play a significant role in the diagnosis and treatment of CTCL, makes the company an excellent strategic partner,” said Dr Lisa Drakeman, CEO of Genmab.