Summary: Genmab has Reached a Milestone in its Ofatumumab Collaboration
COPENHAGEN, June 30 /PRNewswire-FirstCall/ -- Genmab A/S (OMX: GEN) announced today it has reached a development milestone for ofatumumab (HuMax-CD20(R)) under the terms of its collaboration with GlaxoSmithKline (GSK). A milestone payment of approximately DKK 29 million (approximately USD 6 million) was triggered by treatment of the first patient participating in the Phase II study of ofatumumab for the treatment of relapsing remitting multiple sclerosis (RRMS).
"Our collaboration with GSK continues to progress as both companies work towards providing new treatment options for patients," said Lisa N. Drakeman, Ph.D., Chief Executive Officer of Genmab. "We are pleased to begin treating patients in the first study of ofatumumab in RRMS, an unpredictable and debilitating disease."
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 from the other anti-CD20 antibodies currently available or in development. Ofatumumab is being developed under a co-development and commercialization agreement between Genmab and GSK.
About Genmab A/S
Genmab is a leading international biotechnology company focused on developing fully human antibody therapeutics for unmet medical needs. Using cutting-edge antibody technology, Genmab's world class discovery, development and manufacturing teams have created and developed an extensive pipeline of products for potential treatment of a variety of diseases including cancer and autoimmune disorders. As Genmab advances towards a commercial future, we remain committed to our primary goal of improving the lives of patients who are in urgent need of new treatment options. For more information on Genmab's products and technology, visit http://www.genmab.com.
This press release contains forward looking statements. The words "believe", "expect", "anticipate", "intend" and "plan" and similar expressions identify forward looking statements. Actual results or performance may differ materially from any future results or performance expressed or implied by such statements. The important factors that could cause our actual results or performance to differ materially include, among others, risks associated with product discovery and development, uncertainties related to the outcome and conduct of clinical trials including unforeseen safety issues, uncertainties related to product manufacturing, the lack of market acceptance of our products, our inability to manage growth, the competitive environment in relation to our business area and markets, our inability to attract and retain suitably qualified personnel, the unenforceability or lack of protection of our patents and proprietary rights, our relationships with affiliated entities, changes and developments in technology which may render our products obsolete, and other factors. Genmab is not under an obligation to up-date statements regarding the future following the publication of this release; nor to confirm such statements in relation to actual results, unless this is required by law.
Genmab(R); the Y-shaped Genmab logo(R); HuMax(R); HuMax-CD4(R);
HuMax-CD20(R); HuMax-EGFr(TM); HuMax-IL8(TM); HuMax-TAC(TM);
HuMax-HepC(TM); HuMax-CD38(TM); HuMax-CD32b(TM) and UniBody(R) are all
trademarks of Genmab A/S.
Helle Husted, Sr. Director, Investor Relations,
|SOURCE Genmab A/S|
Copyright©2008 PR Newswire.
All rights reserved