Genmab inks DuoBody deal with BioNovion in the field of immuno-oncology

Danish biotech company Genmab (OMX: GEN) has entered into a co-development and commercialization agreement with Netherlands-based BioNovion to evaluate a number of its DuoBody product candidates targeting immune checkpoints.

Genmab and BioNovion will contribute panels of antibodies for the creation of bispecific antibody products using Genmab’s DuoBody platform technology. If the companies jointly select a product candidate for clinical development, development costs will be shared equally, with each party retaining a 50% share of the product rights. If one of the companies decides not to move a therapeutic candidate forward, the other company is entitled to continue developing the product at predefined licensing terms.

The agreement also includes terms which allow the parties to opt out of joint development at key points in each product’s clinical development. Financial terms of the collaboration were not disclosed.

This commercial agreement follows a July 2014 research collaboration between Genmab and BioNovion. It also adds to the DuoBody accords that Genmab already has with Janssen and Novartis.