Scancell signs MAb collaboration with Genmab

UK-based oncology specialist Scancell Holdings (AIM: SCLP) today announced a licensing agreement with Danish biotech Genmab (Nasdaq: GMAB) to develop and commercialize a Scancell investigational anti-glycan monoclonal antibody into novel therapeutic products. News of the deal pushed Scancell’s shares up 26% to 16.54 pence by late morning trading

Under the terms of the accord, Scancell to receive an upfront payment as well as potential milestone payments of up to $208 million for each product developed and commercialized, up to a maximum of $624 million if Genmab develops and commercializes products across all defined modalities. Scancell will also receive low single digit royalties from Genmab on net sales of all commercialized products.

Genmab has been granted the exclusive right to develop and commercialize the Scancell antibody in multiple novel potential therapeutic products for any and all potential disease areas, excluding cell therapy applications. The Scancell anti-glycan monoclonal antibody is a humanized antibody developed by Scancell, using its novel anti-cancer GlyMab platform. This is one of five monoclonal antibodies currently in Scancell’s antibody portfolio which provides a rich reservoir of potential products for its own in house clinical development and also for further deals.