Genmab leaps on $1.1 billion daratumumab deal with Janssen

31 August 2012

Denmark’s Genmab A/S (OMX: GEN) saw its shares leap 20% to 81 Danish kroner in morning trading yesterday, after the company announced today a global license and development agreement for daratumumab (HuMax-CD38), a human CD38 monoclonal antibody with Janssen Biotech, part of US health care giant Johnson & Johnson (NYSE: JNJ), worth potentially more than $1.1 billion to the Danish firm. Genmab shares have more than doubled this year, giving the Copenhagen-based company a market value of 3.62 billion kroner, noted Bloomberg.

Daratumumab is currently in development for multiple myeloma and may have potential in other cancer indications such as acute myeloid leukemia. Under the terms of the agreement, Genmab will grant Janssen an exclusive worldwide license to develop and commercialize daratumumab as well as a backup human CD38 antibody.

Includes 10.7% equity stake

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