Denmark-based Genmab has signed a collaboration and exclusive license agreement with Germany-based Immatics Biotechnologies.
It was reported on Friday that the collaboration is aimed at working on new bispecific cancer immunotherapies. It will engage in the discovery and development of next-generation bispecific immunotherapies for multiple cancer indications.
According to the contract, Immatics will secure an upfront fee of USD54m from Genmab. The agreement has an option to secure up to USD550m in development, regulatory and commercial milestone payments for each product, and tiered royalties on net sales. The deal is intended to allow for the combination of Genmab's proprietary technologies and antibody expertise with Immatics' Xpresident targets and T-cell receptor capabilities, allowing for an enhancement of Genmab's knowledge in immuno-oncology. Under the deal, Genmab will secure an exclusive license to three proprietary targets from Immatics. It is also provided with an option to license up to two additional targets at predetermined economics.
Genmab will provide funding for joint research on multiple antibody and TCR-based bispecific therapeutic product concepts and will also take responsibility for development, manufacturing and worldwide commercialisation of new product candidate resulting from the deal.
Immatics will be provided with an option to limited co-promotion efforts in selected countries in the EU, for the products that are commercialised by Genmab.
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