Genmab A/S announced that it has delivered a HuMax-TAC cell line to Serono, marking the first milestone in the companies' development and commercialization agreement. The cell line could be used to manufacture HuMax-TAC for clinical trials. This milestone triggers a payment to Genmab of USD 1 million.

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, as well as transplant rejection. HuMax-TAC is currently in pre-clinical trials.

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