Genmab licenses DuoBody technology to Gilead

11 August 2016

Danish biotech firm Genmab (OMX: GEN) has entered an agreement to grant Gilead Sciences (Nasdaq: GILD) an exclusive license and an option on a second exclusive license, to use the DuoBody technology platform to create and develop bispecific antibody candidates for a therapeutic program targeting HIV.

Under the terms of the accord, Genmab will receive an upfront payment of $5 million from Gilead. Genmab's shares edged up 1.5% to 1,185 Danish kroner by mid-morning trading today.

Genmab is entitled to potential development, regulatory and sales milestones of up to $277 million for the first product and further milestones for subsequent products. In addition, Genmab will be entitled to single-digit royalties on Gilead’s sales of any commercialized products. Similar terms would apply if Gilead exercises the option to the second license.

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