Genmab A/S announced that its partner Roche has filed a Clinical Trial Application (CTA) with the British Medicines and Healthcare products Regulatory Agency (MHRA) 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, stated a company press release.
"We are pleased that the third antibody created by Genmab under our partnership with Roche is entering the clinic and to now have eight products in clinical development. Genmab has now achieved the eleventh milestone under the collaboration," said, Lisa N. Drakeman, Ph.D., chief executive officer, Genmab.