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Genmab To Pay Upfront Fee Of $54 Mln To Immatics In Research And License Deal

Genmab A/S (GEN), a Danish biotechnology company, announced Thursday that it has entered into a research collaboration and exclusive license agreement with privately owned Immatics Biotechnologies GmbH. The deal is to discover and develop next-generation bispecific immunotherapies to target multiple cancer indications.

Genmab will receive an exclusive license to three proprietary targets from Immatics, with an option to license up to two additional targets at predetermined economics. The companies will conduct joint research, funded by Genmab, on multiple antibody and/or TCR-based bispecific therapeutic product concepts.

Under the terms of the agreement, Genmab will pay Immatics an upfront fee of $54 million. Immatics is eligible to receive up to $550 million in development, regulatory and commercial milestone payments for each product, as well as tiered royalties on net sales.

Genmab may elect to progress any resulting product candidates, and will be responsible for development, manufacturing and worldwide commercialization. For any products that are commercialized by Genmab, Immatics will have an option to limited co-promotion efforts in selected countries in the EU.

Genmab said the deal strengthens its position in immuno-oncology by combining Genmab's proprietary technologies and antibody know-how with Immatics' XPRESIDENT targets and T-cell receptor (TCR) capabilities.

Genmab said the latest news does not impact its 2018 Financial Guidance.

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