Genmab reaches first milestone in HuMax-TAC agreement with Serono

By Elaine Rigoli

Tampa, Fla., Feb. 27 - Genmab A/S announced Monday it has delivered a HuMax-TAC cell line to Serono, marking the first milestone in the companies' development and commercialization agreement.

The cell line could be used to manufacture HuMax-TAC for clinical trials, according to a company news release.

This milestone triggers a $1 million payment to Genmab, the release said.

HuMax-TAC is a fully human monoclonal antibody that may have therapeutic potential in the treatment of T-cell mediated diseases, such as autoimmune disorders, inflammatory and hyperproliferative skin disorders, as well as transplant rejection. HuMax-TAC is in preclinical trials.

In May 2005, Serono and Genmab signed an agreement under which Genmab granted Serono exclusive worldwide rights to develop and commercialize Genmab's HuMax-TAC.

Under the agreement, Genmab received an upfront payment of $2 million; the company is entitled to potential milestone payments of up to $38 million and royalties on sales from any eventual commercialization of the product.

Serono is responsible for all future development for HuMax-TAC, the release said.

Genmab is a biotechnology company that creates and develops human antibodies for the treatment of life-threatening and debilitating diseases. Genmab has operations in Copenhagen, Denmark, Utrecht, the Netherlands, and Princeton, N.J.

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