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news.Danish biotechnology firm Genmab has entered into an agreement with Germany-based BioNTech to jointly research, develop and commercialize bispecific antibody products using Genmab's DuoBody technology platform.
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As part of the deal, BioNTech will provide proprietary antibodies against key immunomodulatory targets that activate the immune system against cancer, while Genmab will provide access to its DuoBody technology platform.
The deal will see Genmab pay an upfront fee of $10m to BioNTech and additional potential near-term payments of about $5m if certain BioNTech assets are selected for further development.
In future, development costs and product ownership will be equally shared if the companies jointly select any product candidates for clinical development.
Under the deal, if one of the companies does not wish to move a product candidate forward, the other company is allowed to continue developing the product on predetermined licensing terms.
The deal also includes provisions which will allow the parties to opt out of joint development at key points.
Genmab chief executive officer Jan van de Winkel said: "This collaboration with BioNTech focuses on two very interesting areas in the antibody therapeutic space — bispecific antibodies and immuno-oncology – and supports Genmab’s strategy of creating a broad pipeline of differentiated next-generation antibody therapeutics."