Genmab purchased all of Europroteome’s rights, including patent applications and know-how from the company’s insolvency administrator, and does not owe anything further to the insolvency estate.
The Danish human antibodies developer has started generating human antibodies to a unique target highly expressed on colon carcinomas.
Expressing her enthusiasm in the deal, Genmab CEO Dr Lisa Drakeman said, “These rights give Genmab access to numerous cancer targets, including ones for colon cancer, providing the opportunity to further build our pre-clinical pipeline.”
The biotech company’s pipeline already includes numerous products for life-threatening and debilitating diseases such as cancer, infectious disease, rheumatoid arthritis and other inflammatory conditions.
There are no milestone or royalty obligations due and the acquisition of Europroteome’s rights does not influence Genmab’s financial guidance for 2005.