Genmab Reins In, Looks To Partners
Once hailed by some as a potential "European Genentech," antibody player Genmab AS is emerging far humbler from the other side of a radical strategic and financial overhaul. Hit by a series of development delays, cost overruns and some poor decision-making, the company has reined in its one-time ambition to become a fully integrated, commercial outfit.
You may also be interested in...
With Roche’s Pascal Soriot set to become AstraZeneca’s CEO on Oct. 1, Soriot’s success in merging Genentech into Roche may open up AZ’s business development strategy to large-scale M&A.
Janssen Biotech has signed its second deal in less than two months with antibody discovery company Genmab, this time licensing the Danish company's potential first-in-class multiple myeloma therapy daratumumab for $55 million upfront and an equity investment.
Indications are a regulatory filing for the EGFR inhibitor in second-line head and neck cancer would be acceptable in Europe, though not in the U.S., CEO vande Winkel says.