GenmabÂ Secures Rights to Antibody from Medarex
COPENHAGEN, September 13 -- GenmabÂ announced today the execution of an asset exchange agreement with Medarex, Inc. Under the terms of the agreement, Genmab will receive full rights to HuMax-Inflam(TM)/MDX-018, which targets IL-8, and Medarex will receive full rights to multiple disease programs in oncology. Genmab and Medarex will release to each other all previously held economic interests in the assets exchanged.
"Genmab will now hold all the rights to the HuMax-Inflam antibody which we have developed in cooperation with Medarex and hope to move the product into further clinical studies soon," said Lisa N. Drakeman, Ph.D., Chief Executive Officer of Genmab.
About Genmab A/S
Genmab is a leading international biotechnology company focused on developing fully human antibody therapeutics for unmet medical needs. Using unique, cutting-edge antibody technology, Genmab's world class discovery and development teams have created and developed an extensive pipeline of products for potential treatment of a variety of diseases including cancer and autoimmune disorders. As Genmab advances towards a commercial future, we remain committed to our primary goal of improving the lives of patients who are in urgent need of new treatment options. For more information on Genmab's products and technology, visit http://www.genmab.com.
This press 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 product discovery and development, 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. Genmab is not under an obligation to up-date statements regarding the future following the publication of this release; nor to confirm such statements in relation to actual results, unless this is required by law.