Genmab banks $22M from J&J as myeloma drug ticks forward

Denmark's Genmab is rolling right along with breakthrough-designated daratumumab for double refractory multiple myeloma, hitting a milestone in Phase II development and triggering a $22 million payout from collaborator Johnson & Johnson ($JNJ). J&J signed a deal worth up to $1.1 billion to get its hands on global rights to the drug, taking an $80 million equity stake in Genmab and handing over a $55 million upfront payment. Daratumumab is a CD38 antibody with potential in leukemia and lymphoma, and the drug picked up the FDA's coveted breakthrough therapy designation for multiple myeloma last year. More