Genmab will develop and commercialise a next-gen human CD38 monoclonal antibody product incorporating its HexaBody technology after signing a global license and option agreement with Janssen.
The agreement will see Genmab collaborate exclusively with Janssen on HexaBody-CD38, with the former funding R&D activities until completion of clinical proof of concept studies in multiple myeloma and diffuse large B-cell lymphoma.
Based on the data from these studies, Janssen may exercise its option and receive a worldwide license to develop, manufacture and commercialise HexaBody-CD38.
Should this occur, Janssen will pay Genmab a $150 million option exercise fee and up to $125 million in development milestones, as well as a flat royalty rate of 20% on sales of HexaBody-CD38 until a specified time in 2031, followed by 13-20% tiered royalties on sales thereafter.
Should Janssen not exercise its option, the terms of the agreement allow Genmab to continue to develop and commercialise HexaBody-CD38 for Darzalex-resistant patients, and in all other indications except those multiple myeloma or amyloidosis indications where Darzalex is either approved or is being actively developed.
The agreement is the outcome of pre-clinical research on novel CD38 targeting concepts conducted by Genmab.
For HexaBody-CD38, Genmab obtained promising pre-clinical data in a panel of multiple myeloma, lymphoma and leukaemia models.