Roche and Genmab reach second milestone in collaboration
Basel, Switzerland, and Copenhagen, Denmark, October 27 /PRNewswire/ -- - Summary: Second Genmab antibody achieves proof of concept in Roche collaboration.
F. Hoffmann-La Roche (Roche) and Genmab A/S announced today that Genmab (Copenhagen GEN.CO - news) has achieved a second milestone in their collaboration, having reached the proof of concept stage with a human antibody generated by Genmab. This is the second antibody program in the alliance to reach this critical stage.
"With this milestone we continue to move forward in our partnership with Roche," said Lisa N. Drakeman, Ph. D., Chief Executive Officer of Genmab. "We are pleased with the way our collaboration is progressing."
The relationship, entered into in May, 2001, has proven positive for both companies and the results have been quicker than anticipated. "When Roche and Genmab began working together, we had identified a number of targets to pursue. Since then, the partnership has expanded to include several times as many targets," explained Klaus Strein, Roche's Head of Penzberg Pharma research Facility.
Under the agreement, Genmab utilises its broad antibody expertise and development capabilities to create human antibodies to a broad range of disease targets identified by Roche. Roche has a proven successful track record in developing biologicals as innovative new products. Genmab receives milestone and royalty payments based on successful products. In certain circumstances, Genmab may obtain rights to develop products based on disease targets identified by Roche. If all goals are reached, the value of the collaboration to Genmab could be US$100 Million, plus royalties.
Roche Business Development and Alliance Strategy
Roche is a distinctive alliance partner with expertise in identifying cutting-edge innovation that can lead to new and improved medicines. Since January 2002, Roche has formed over 45 new partnerships which span a wide range of therapeutic areas and technologies, making it an industry leader. Through its alliance strategy, Roche creates value with its partners by transforming these business transactions into productive relationships that allow for mutual growth and expansion. As evidence of this development plan, in just eight months, Roche and its partners have renewed or broadened eight ongoing alliances. Roche is committed to an alliance strategy that enables its partners to achieve their vision while maintaining their cultural identity and entrepreneurial spirit.
Conference call
Genmab's Management will hold a conference call to discuss the news today, October 27 2003 at:
4:00 pm CET
3:00 pm BST
10:00 am US Eastern Time
The dial in numbers are as follows:
1-800-915-4836 (in the US) and ask for the Genmab conference call
1-973-317-5319 (outside the US) and ask for the Genmab conference call
The conference call will be held in English. |
