Genmab A/S announced that its partner Roche has filed an Investigational New Drug application (IND) with the US Food and Drug Administration for a Genmab antibody developed under the companies' collaboration. Genmab will receive a milestone payment from Roche which does not influence Genmab's financial guidance for 2007.
Under the agreement with Roche, Genmab utilizes its broad antibody expertise and development capabilities to create human antibodies to a broad range of disease targets identified by Roche. Genmab receives milestone and royalty payments based on successful products. In certain circumstances, Genmab may obtain rights to develop products based on disease targets identified by Roche. If all goals are reached, the value of the collaboration to Genmab could be USD 100 million, plus royalties.
"This will be the second antibody produced under our collaboration with Roche to enter the clinic and Genmab's seventh antibody to enter clinical development overall," said Lisa N Drakeman, PhD, chief executive officer of Genmab. "Our partnership with Roche continues to bear fruit and add value to Genmab's expanding product pipeline."