Genmab to receive $30 million milestone payment from Janssen

Danish biotech firm Genmab (OMX: GEN) says it has achieved a $30 million milestone in its Darzalex (daratumumab) collaboration with Janssen Biotech, a subsidiary of US healthcare giant Johnson & Johnson (NYSE: JNJ).

The milestone payment was triggered by the first commercial sale of Darzalex in Europe. The European Commission (EC) recently granted a conditional marketing authorization for first-in-class CD38 immunotherapy Darzalex for use as monotherapy for the treatment of adult patients with relapsed and refractory multiple myeloma, whose prior therapy included a proteasome inhibitor (PI) and an immunomodulatory agent and who have demonstrated disease progression on the last therapy.

“We continue to be impressed by the rapid speed with which our collaboration partner, Janssen, has been able to develop and launch Darzalex in Europe,” said Jan van de Winkel, chief executive of Genmab.