Genmab A/S announced it has entered a co-development and commercialization agreement with BioNovion to evaluate a number of DuoBody product candidates targeting immune checkpoints. Genmab and BioNovion will contribute panels of antibodies for the creation of bispecific antibody products using Genmab's DuoBody platform technology. If the companies jointly select a product candidate for clinical development, development costs will be shared equally, with each party retaining a 50% share of the product rights. If one of the companies decides not to move a therapeutic candidate forward, the other company is entitled to continue developing the product at predefined licensing terms. The agreement also includes terms which allow the parties to opt out of joint development at key points in each product's clinical development.
This commercial agreement follows a July 2014 research collaboration between Genmab and BioNovion.
"We are pleased to expand our research collaboration with BioNovion into a full commercial agreement, and utilize our robust and versatile DuoBody technology to create unique differentiated cancer therapeutics in the promising field of immuno-oncology," said Jan van de Winkel, Ph.D., Chief Executive Officer of Genmab.
Source : http://ir.genmab.com/