Genmab Grants Licenses For DuoBody Technology Platform To Novo Nordisk

(RTTNews) - Genmab A/S (GMXAY.PK) announced it has entered an agreement to grant Novo Nordisk commercial licenses to use the DuoBody technology platform to create and develop bispecific antibody candidates for two therapeutic programs. The bispecific antibodies will target a disease area outside of cancer therapeutics.

Genmab will receive an upfront payment of $2 million from Novo Nordisk. Genmab is entitled to potential development, regulatory and sales milestones of up to approximately $250 million for each exclusive license, or approximately $200 million for each non-exclusive license. Genmab will be entitled to single-digit royalties on sales of any commercialized products.

Genmab said the agreement is not expected to have a material impact on its 2015 financial guidance.