Genmab has agreed to pay BliNK Biomedical $2.25 million in advance and up to US$200 million per product related to the achievement of development, regulatory and commercial milestones. BliNK Biomedical is also entitled to tiered royalties on net sales. Genmab is entitled to potential development, regulatory and distribution bricks of up to $277 million for the first product and other milestones for subsequent products. In addition, Genmab is entitled to one-digit royalties on the sale of products marketed by Gilead. Similar terms would apply if Gilead exercises the option on the second license. “We are pleased to include this agreement with Gilead in our growing list of commercial cooperations for our innovative DuoBody platform and are particularly pleased that the potential of duoBody bi-specific antibodies to treat HIV is being investigated,” said Jan van de Winkel, Ph.D., Chief Executive Officer of Genmab. This new strategic cooperation builds on existing service agreements between companies. As part of the cooperation agreement, the companies will work together on research projects identified by Genmab to explore new product and biomarker concepts. For all resulting products, Genmab will lead all development and business activities. Tempus is entitled to undisclosed milestones and royalties from Genmab and also has the option to fund part of the product development programmes in exchange for an increase in royalties due to Tempus under the agreement. This agreement is not expected to have a significant impact on Genmab`s financial forecast for 2016.
Genmab said it would use about $100 million of its net product to bring tisotumab vedotin to market in recurrent and/or metastatic cervical cancer; Advance vedotin tisotumab in other solid tumor indications; and “develop our commercial capabilities as part of the possible future approval of tisotumab vedotine.” Genmab A/S announced today that it has entered into a strategic cooperation agreement with Tempus, a private technology company that advances precision medicine through the practical use of artificial intelligence in the healthcare sector. . . .