Serono and Genmab have signed an agreement under which Genmab grants Serono exclusive worldwide rights to develop and commercialize Genmab's HuMax-TAC.

The product is a fully human monoclonal antibody targeting the TAC antigen - also known as CD25, or the interleukin-2 receptor alpha subunit (IL-2Ra) - which is overexpressed by activated T-cells. By inhibiting the proliferation of T-cells, HuMax-TAC may have therapeutic potential in the treatment of T-cell mediated diseases, such as autoimmune disorders, inflammatory and hyperproliferative skin disorders, as well as acute transplant rejection. HuMax-TAC is currently in pre-clinical trials.

Under the agreement, Genmab will receive an upfront payment of US$2 million and is entitled to potential milestone payments of up to US$38 million and royalties on sales from any eventual commercialization of the product. Serono will be responsible for all future development costs for HuMax-TAC.