Genmab has stopped clinical development of a blood cancer treatment after Johnson & Johnson decided it won't exercise its option to license it.
The Copenhagen, Denmark, biotechnology company said Monday Johnson & Johnson has decided it won't exercise its option to receive a worldwide license to develop, manufacture and commercialize HexaBody-CD38, which is designed to treat people with certain blood cancers.
Genmab will not pursue further clinical development of the drug, it said, after evaluating the data, market landscape and its own portfolio prioritization.
Genmab had provided Johnson and Johsnon with data from a clinical proof-of-concept study for HexaBody-CD38 to treat multiple myeloma. Preliminary data demonstrated an overall response rate of 55%, while the rate of very good partial response or better was 29% and complete response or better was 7%.
Johnson & Johnson's decision does not impact Genmab's 2025 financial guidance, it said.
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