Genmab A/S (GNMSF.PK) Monday announced that it has entered into an agreement with Novartis to use its Duobody technology platform to create and develop bispecific antibodies.
The international biotechnology company, Genmab A/S, stated that the Duobody platform is an inno0vative platform for the discovery and development of bispecific antibodies that may improve antibody therapy of cancer, autoimmune, infectious and central nervous system disease.
Genmab further stated that it will create panels of bispecific antibodies of two disease target combinations identified by Novartis. The company further added that all research work on the programs is fully funded by Novartis.
Under the terms of the agreement, Genmab stated that it would receive an upfront payment of $2 million. If all milestones in the agreement are achieved, the total potential value of the agreement to Genmab would be approximately $175 million, plus research funding and royalties.
Genmab A/S reiterated that this agreement is not expected to have a material impact on its 2012 financial guidance.
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