Genmab A/S has received two milestone payments of DKK 87.2 million each as part of its collaboration with GlaxoSmithKline (GSK) on ofatumumab.

Genmab has reached the second and third development milestones for ofatumumab (HuMax-CD20). The second milestone payment of the collaboration of DKK 87.2 million was triggered by treatment of the first patient in the phase II study of ofatumumab in Diffuse Large B-Cell Lymphoma (DLBCL), which occurred in 2007. The third milestone payment of DKK 87.2 million was triggered by the first patient receiving treatment in the phase III rheumatoid arthritis (RA) programme, which occurred in 2008.

Genmab achieved the first development milestone payment of DKK 116.3 million under the GSK collaboration in June, triggered by positive efficacy results in the phase II RA study.

Ofatumumab is an investigational, fully human, next generation monoclonal antibody that targets a distinct small loop epitope on the CD20 receptor on the surface of B-cells. This epitope is different to the other anti-CD20 antibodies currently available or in development. Ofatumumab is being developed under a co-development and commercialisation agreement between Genmab and GlaxoSmithKline.

"Genmab and GSK have worked hard to expand development with ofatumumab since our collaboration began in December 2006," said Lisa N. Drakeman, Ph.D., chief executive officer, Genmab. "The successful initiation of the ofatumumab RA and DLBCL programs are a testament to the cooperative spirit of our companies."