Genmab achieves $3 million milestone payment in DuoBody collaboration with Janssen
Danish biotech company Genmab (OMX: GEN) said it is set to receive $3 million in milestone payment from Janssen Biotech, a unit of US health care giant Johnson & Johnson (NYSE: JNJ), following a pre-clinical advancement for its DuoBody technology platform.
The company said the news will not impact its outlook for 2015.
The DuoBody product candidate targeting cancer is being developed in collaboration with Janssen Biotech. Janssen has optioned 11 programs out of a total of 20 programs under the bispecific DuoBody platform collaboration with Genmab. Including the collaboration with Janssen, Genmab has five commercial partnerships for its DuoBody technology.
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