Genmab regains rights to acasunlimab

Shares of Genmab (Nasdaq: GMAB) dipped 2.6% to 1,867 kroner in early trading, as the Danish drugmaker revealed that the return of rights to acasunlimab by German biotech BioNTech (Nasdaq: BNTX).

As a result of BioNTech’s decision to not participate in the development of acasunlimab (formerly known as GEN1046), the program will be subject to payment of certain milestone and a tiered single-digit royalty on net sales by Genmab to BioNTech. Genmab noted that it plans to initiate the Phase III study in the second half of this year.

While the emerging clinical profile of acasunlimab is encouraging, BioNTech informed the company that it has taken this decision for reasons relating to its portfolio strategy. The companies’ long-standing collaboration in antibody science remains in place, and both parties will continue with the existing programs under development under their existing agreements, which were expanded in 2022.