Analyst Balaji Prasad initiates coverage
Tuesday, June 11, 2019
Monday, June 10, 2019
Genmab Signs Agreement with Janssen for Next-Generation CD38 Antibody
- Genmab signs agreement with Janssen Biotech, Inc. to collaborate exclusively on next-generation CD38 antibody product, HexaBody®-CD38, incorporating Genmab’s proprietary HexaBody technology
- New agreement builds on Genmab’s successful DARZALEX® collaboration with Janssen
- Next-generation HexaBody-CD38 could potentially add to the DARZALEX multiple myeloma franchise and expand the potential of CD38-targeted therapies in further indications
Genmab A/S (Nasdaq Copenhagen: GEN) announced today it has entered into an exclusive worldwide license and option agreement with Janssen Biotech, Inc. (Janssen) to develop and commercialize HexaBody-CD38, a next-generation human CD38 monoclonal antibody product incorporating Genmab’s proprietary HexaBody technology. Under the terms of the agreement, Genmab will collaborate exclusively with Janssen on HexaBody-CD38, with Genmab funding research and development activities until completion of clinical proof of concept studies in multiple myeloma and diffuse large B-cell lymphoma. Based on the data from these studies, Janssen may exercise its option and receive a worldwide license to develop, manufacture and commercialize HexaBody-CD38. Should this occur, Janssen will pay Genmab a USD 150 million option exercise fee and up to USD 125 million in development milestones, as well as a flat royalty rate of 20% on sales of HexaBody-CD38 until a specified time in 2031, followed by 13-20% tiered royalties on sales thereafter. Should Janssen not exercise its option, the terms of the agreement allow Genmab to continue to develop and commercialize HexaBody-CD38 for DARZALEX-resistant patients, and in all other indications except those multiple myeloma or amyloidosis indications where DARZALEX is either approved or is being actively developed.
The agreement is the outcome of pre-clinical research on novel CD38 targeting concepts conducted by Genmab. For HexaBody-CD38, Genmab obtained promising pre-clinical data in a panel of multiple myeloma, lymphoma and leukemia models.
Smith & Nephew acquires innovator in surgical optical tracking technology
Smith & Nephew plc (LSE:SN, NYSE:SNN), the global medical technology business, today announces that it has agreed to acquire Atracsys Sàrl, the Switzerland-based provider of optical tracking technology used in computer-assisted surgery.
Atracsys’ fusionTrack 500 optical tracking camera will be a core enabling technology for Smith & Nephew’s multi-asset digital surgery and robotic ecosystem, including initially in its next-generation robotics platform due for commercial release in 2020. The fusionTrack 500 offers superior measurement speed and latency performance, supporting reduced procedure times, as well as increased accuracy resulting in finer precision surgical tasks, such as bone cuts, compared to existing tracking technology.
‘The promise of computer assisted surgery with robotics is to provide faster, more accurate, reproducible results that enable surgeons to restore quality of life to more patients,’ said Skip Kiil, Global President of Orthopaedics at Smith & Nephew. ‘With the acquisition of Atracsys, we are securing what we believe to be the best-in-class position tracking technology for our next-generation robotic-assisted surgical system.’
Atracsys’ portfolio includes open platform optical navigation and robotic tracking components with applications in orthopaedics, neurosurgery, spine and dental. Smith & Nephew plans for the business to continue serving these markets.
‘Our aim is to continuously contribute to the improvements in healthcare all around the world, guiding surgical instruments with sub-millimetric precision,’ said Gaëtan Marti, co-founder and Chief Executive Officer of Atracsys. ‘Smith & Nephew’s commitment to offer significant advancements in enabling technology across multiple surgical specialities will open breakthrough opportunities for robotics and computer-assisted surgery,’ added Maurice Hälg, co-founder and Chief Technology Officer.
The acquisition is expected to complete during the third quarter of 2019. The commercial terms have not been disclosed.
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