Genmab to pocket potential $4 billion from AbbVie deal
Danish biotech company Genmab (CPH: GMAB) closed 4% higher at the end of Wednesday’s trading after announcing an oncology collaboration with US drugmaker AbbVie (NYSE: ABBV).
This broad collaboration agreement is for the joint development and commercialization of three of Genmab’s early-stage investigational bispecific antibody product candidates, and companies have also entered into a discovery research collaboration for future differentiated antibody therapeutics for cancer.
The companies will partner to develop Genmab’s next-generation bispecific antibody programs, epcoritamab (DuoBody-CD3xCD20), DuoHexaBody-CD37 and DuoBody-CD3x5T4.
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