On May 19, 2015 Genmab reported it has entered an agreement with BioNTech AG to jointly research, develop and commercialize bispecific antibody products using Genmab’s DuoBody technology platform (Press release, Genmab, MAY 19, 2015, View Source [SID:1234504586]).

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Under the terms of the agreement, BioNTech will provide proprietary antibodies against key immunomodulatory targets that play an important role in activating the immune system against cancer, while Genmab provides access to its DuoBody technology platform. Genmab will pay an upfront fee of USD 10 million to BioNTech and additional potential near-term payments of up to USD 5 million if certain BioNTech assets are selected for further development. If the companies jointly select any product candidates for clinical development, development costs and product ownership will be shared equally going forward. If one of the companies does not wish to move a product candidate forward, the other company is entitled to continue developing the product on predetermined licensing terms. The agreement also includes provisions which will allow the parties to opt out of joint development at key points.

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"This collaboration with BioNTech focuses on two very interesting areas in the antibody therapeutic space — bispecific antibodies and immuno-oncology – and supports Genmab’s strategy of creating a broad pipeline of differentiated next-generation antibody therapeutics," said Jan van de Winkel, Ph.D., Chief Executive Officer of Genmab.

Today’s agreement does not impact Genmab’s 2015 financial guidance.