Genmab A/S, seems to have changed its list of priorities after picking up assets from iDD Biotech and dropping the option to co-develop the drug HuMax-TAC-ADC with ADC Technologies. This change is supposed to leave the biotech firm, with a new array of assets that it has to advance towards the clinics.
In an attempt to keep a track of what Genmab added to its pipeline, the Denmark based biotech firm has handed over around €2.5 million ($2.7 million) upfront. It could potentially pay €101.5 million in milestones and for other such benefits for the production of antibodies, which targets the DR5 receptor (Death Receptor 5) or the Trail Receptor 2. The presence of DR5 in cancer cells has made many biotech giants pursue after this receptor but the results has been mixed. The France based iDD has tried to apply monoclonal antibody (mAb) library to DR5.
This led to the production of IDD004, which is at its preclinical stage and is designed to work against malignant glioma and solid tumors. The Lyon based firm also isn’t expecting a candidate targeting the DR5 class of receptors to enter Phase I of production before 2017, by which time there could be potentially three other programs already in the clinic, which is why they have decided to cash on it early. Genmab is supposed to pick up the work from here and provide it an expanded presence in the area of oncology, which also attracts other biotech firms such as Amgen, Inc. (NASDAQ:AMGN), Genentech, MacroGenics as well.
This news of the deal made, with iDD came only a few days after Genmab decided to turn down the option to co-develop the HuMax-TAC-ADC drug with ADC Therapeutics.However, even though ADC sees potential in this area, Genmab thinks it could be best for them to back out of development, which would cut to 50% stake in the assets.