Copenhagen-based Genmab A/S (GMAB +0.1%) inks a five-year research collaboration and license agreement with German biotech CureVac AG aimed at developing mRNA-based antibody therapies for cancer.
The partnership will leverage CureVac’s mRNA technology and know-how with Genmab’s antibody technologies and expertise.
Under the terms of the agreement, Genmab will pay CureVac $10M upfront plus an equity investment of €20M.
CureVac will contribute a portion of the overall cost of developing the first candidate up to the IND stage after which Genmab will assume all development and commercialization activities and expenses. CureVac will be eligible for undisclosed milestones and tiered royalties on net sales.
Genmab will have three additional options to in-license candidates within the five-year period. CureVac will be eligible for $275M – 368M in milestones per licensed product in addition to tiered mid-single-to-low-double-digit royalties on net sales. CureVac will have the option to participate in the development and/or commercialization of one program subject to conditions.
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