Genmab to receive $1 million milestone payment from Serono

The cell line could be used to manufacture HuMax-TAC for clinical trials. HuMax-TAC is a fully human monoclonal antibody that may have therapeutic potential in the treatment of T-cell mediated diseases, such as autoimmune disorders, inflammatory and hyperproliferative skin disorders, and transplant rejection. It is currently in preclinical trials.

Genmab and Serono’s agreement for HuMax-TAC was signed in May 2005, when Genmab granted Serono exclusive worldwide rights to develop and commercialize HuMax-TAC. Under the agreement, Genmab received an upfront payment of $2 million and is entitled to potential milestone payments of up to $38 million and royalties on sales from any eventual commercialization of the product. Serono is responsible for all future development for HuMax-TAC.

The agreement is among many that Genmab has struck. The Danish biotech firm also has alliances and partnership deals with Roche, Amgen and Medarex.

In other news, Genmab has recently been boasting about the potential of its arthritis treatment candidate HuMax-CD20, and the impact it could one day have upon Roche and Genentech’s rival drug Rituxan. According to Reuters, Genmab chief executive Lisa Drakeman told Reuters Biotechnology Summit attendees the drug “could take a share of the market that is bigger than Rituxan’s current sales.”