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New Genmab-deal with limited results

The recent partnership deal with a Swedish company will not make the Danish biotech company Genmab a great profit, but the deal is still better than status quo, the company’s Head of Investor Relations points out.

Foto: Genmab / PR

Genmab has not come into money, even though the company has made a partnership deal concerning the substance HuMax IL-8 with the Swedish company Cormorant Pharmaceuticals. In fact, the upfront and milestone payments on the deal are so moderate that they are hardly worth mentioning, says Head of Investor Relations in Genmab, Rachel Gravesen.

“As far as the milestone and upfront payments are concerned, it’s not huge amounts we are talking about, but it’s still a good deal, because it’s a product that we have previously shelved and now there is a potential upside if our new partner succeeds,” she tells Medwatch.

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