Partnerships
Amgen: In May 1999, Genmab entered a sub-license agreement with Amgen where it would gain rights to the IL15 antibodies. In October 2001, this was replaced by a direct license agreement where Amgen retained exclusive commercialization options for the products through phase II. Amgen has also expanded its agreement to a new antibody program targeting additional disease targets. Amgen has discontinued development of the IL15 antibody, AMG 714, in psoriasis and rheumatoid arthritis based on disappointing results from recent clinical studies. Amgen is exploring options to maximize the value of this asset, but as this time, no further internal development of a lead indication is planned.
GlaxoSmithKline: In December 2006, Genmab entered a deal with GlaxoSmithKline to co-develop and commercialize ofatumumab, which is a drug that could be used for treatment in CD20 positive B-cell chronic lymphocytic leukemia, follicular non-Hodgkin’s lymphoma, rheumatoid arthritis and other indications. The agreement gave Genmab a license fee of DKK 582 million and GSK bought 4,471,202 shares of Genmab for 2,033 million. The potential value of this agreement could be 12.0 billion DKK if all milestones are reached and commercial success is reached in the fields of cancer, autoimmune, and inflammatory disease. Until 2008, Genmab will bear the entire development cost, after which the costs will be shared equally between the two. Genmab and GSK amended the agreement in July 2010. GSK has taken responsibility for developing ofatumumab in autoimmune indications while continuing to jointly develop ofatumumab with Genmab in oncology indications. Genmab received an up front payment of GBP 90 million from GSK in relation to the amendment and the Company's future funding commitment is capped at GBP 145 million. Further milestones due to Genmab under the oncology development program will be reduced by 50%. GSK is now solely responsible for funding development in autoimmune indications and Genmab will forgo development milestones for autoimmune indications and the first two sales milestones.
In addition, Genmab has collaborations with Roche, Lundbeck and Seattle Genetics.
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