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MarketScreener Homepage  >  Equities  >  NASDAQ OMX COPENHAGEN  >  Genmab    GEN   DK0010272202

GENMAB

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Genmab : and BliNK Biomedical Enter into Commercial License Agreement

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07/12/2019 | 06:02am EDT

Media Release


Copenhagen, Denmark, July 12, 2019

  • Genmab and BliNK Biomedical have entered into a commercial license agreement to develop novel bispecific therapeutics based on BliNK Biomedical’s CD47 antibodies and Genmab’s DuoBody® Platform technology.


Genmab A/S (Nasdaq Copenhagen: GEN) announced today that it has entered into an agreement with BliNK Biomedical for an exclusive commercial license to certain antibodies targeting CD47, for potential development and commercialization into novel bispecific therapeutics created via Genmab’s proprietary DuoBody Platform technology.
This agreement supports Genmab’s established product pipeline strategy. Under the terms of the agreement, Genmab will pay BliNK Biomedical an upfront fee of USD 2.25 million. BliNK Biomedical is also eligible to receive up to approximately USD 200 million in development, regulatory and commercial milestone payments for each product, as well as tiered royalties on net sales.

“With this agreement the scope of product concepts under development at Genmab has been expanded. CD47 has shown potential as a target for cancer and we believe that a bispecific approach may open up potential for differentiated therapies. We are always looking to use our in-house expertise in novel ways; we look forward to seeing the results from the combination of Genmab’s DuoBody technology with a CD47 antibody from BliNK Biomedical,” said Jan van de Winkel, Ph.D., Chief Executive Officer of Genmab.

BliNK Biomedical is a privately-owned biopharmaceutical company based in Marseille, France, focused on discovery and development of therapeutic antibodies in oncology and immuno-oncology.

About Genmab
Genmab is a publicly traded, international biotechnology company specializing in the creation and development of differentiated antibody therapeutics for the treatment of cancer. Founded in 1999, the company has two approved antibodies, DARZALEX® (daratumumab) for the treatment of certain multiple myeloma indications, and Arzerra® (ofatumumab) for the treatment of certain chronic lymphocytic leukemia indications. Daratumumab is in clinical development for additional multiple myeloma indications, other blood cancers and amyloidosis. A subcutaneous formulation of ofatumumab is in development for relapsing multiple sclerosis. Genmab also has a broad clinical and pre-clinical product pipeline. Genmab's technology base includes a number of proprietary next generation antibody technologies Genmab has alliances with other leading pharmaceutical and biotechnology companies.


Contact:          
Marisol Peron, Corporate Vice President, Communications & Investor Relations
T: +1 609 524 0065; E: mmp@genmab.com

For Investor Relations:
Andrew Carlsen, Senior Director, Investor Relations
T: +45 3377 9558; E: acn@genmab.com

This Media Release contains forward looking statements. The words “believe”, “expect”, “anticipate”, “intend” and “plan” and similar expressions identify forward looking statements. Actual results or performance may differ materially from any future results or performance expressed or implied by such statements. The important factors that could cause our actual results or performance to differ materially include, among others, risks associated with pre-clinical and clinical development of products, uncertainties related to the outcome and conduct of clinical trials including unforeseen safety issues, uncertainties related to product manufacturing, the lack of market acceptance of our products, our inability to manage growth, the competitive environment in relation to our business area and markets, our inability to attract and retain suitably qualified personnel, the unenforceability or lack of protection of our patents and proprietary rights, our relationships with affiliated entities, changes and developments in technology which may render our products obsolete, and other factors. For a further discussion of these risks, please refer to the risk management sections in Genmab’s most recent financial reports, which are available on www.genmab.com. Genmab does not undertake any obligation to update or revise forward looking statements in this Media Release nor to confirm such statements to reflect subsequent events or circumstances after the date made or in relation to actual results, unless required by law.

Genmab A/S and/or its subsidiaries own the following trademarks: Genmab®; the Y-shaped Genmab logo®; Genmab in combination with the Y-shaped Genmab logo®; HuMax®; DuoBody®; DuoBody in combination with the DuoBody logo®; HexaBody®; HexaBody in combination with the HexaBody logo®; DuoHexaBody®; HexElect®; and UniBody®. Arzerra® is a trademark of Novartis AG or its affiliates. DARZALEX® is a trademark of Janssen Pharmaceutica NV.


Media Release no. 08
CVR no. 2102 3884
LEI Code 529900MTJPDPE4MHJ122

Genmab A/S
Kalvebod Brygge 43
1560 Copenhagen V
Denmark

Attachment

  • 190712_i08_BliNK

© OMX, source OMX

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Financials (DKK)
Sales 2019 4 573 M
EBIT 2019 2 263 M
Net income 2019 1 858 M
Finance 2019 7 848 M
Yield 2019 0,04%
P/E ratio 2019 40,7x
P/E ratio 2020 36,3x
EV / Sales2019 15,6x
EV / Sales2020 12,6x
Capitalization 79 228 M
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Mean consensus OUTPERFORM
Number of Analysts 19
Average target price 1 345,00  DKK
Last Close Price 1 219,50  DKK
Spread / Highest target 39,4%
Spread / Average Target 10,3%
Spread / Lowest Target -25,4%
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Managers
NameTitle
Jan G. J. van de Winkel President & Chief Executive Officer
Mats Gunnar Pettersson Chairman
Michael K. Bauer SVP, Head-Operations, Research & Development
David Andrew Eatwell Chief Financial Officer & Executive Vice President
Anders Gersel Pedersen Deputy Chairman
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