Genmab earns $40 million milestone from AbbVie
Danish biotech company Genmab (Nasdaq: GMAB) today revealed it has reached the first milestone under its collaboration with US drugmaker AbbVie (NYSE: ABBV), pushing the firm’s shares up more than 2% to 2,560 Danish kroner in late afternoon trading.
A $40 million milestone payment was triggered by the first patient dosed in the Phase III study of subcutaneous epcoritamab versus investigator’s choice of chemotherapy in patients with relapsed or refractory diffuse large B-cell lymphoma (DLBCL).
“We are very pleased that the first Phase III study of epcoritamab has been activated at multiple clinical sites and the first cancer patient has been dosed. We look forward to continued rapid progress in this exciting and rapidly broadening development program,” said Jan van de Winkel, chief executive of Genmab.
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