LONDON British drug maker GlaxoSmithKline has inked a co-development and commercialization agreement with Genmab, the drug makers said Thursday.
Under the terms of the agreement, GSK will take responsibility for developing ofatumumab, an investigational treatment for autoimmune diseases, whilst continuing to jointly develop ofatumumab with Genmab in oncology indications. Genmab will receive an upfront payment of GBP 90 million from GSK.
"Autoimmune diseases represent an area of high unmet medical need. GSK's growing biopharmaceutical capabilities, coupled with our deep therapy-area expertise, will greatly facilitate the development of ofatumumab in these indications," said Ian Tomlinson, SVP biopharmaceutical research and development at GSK.
Added Genmab CEO Jan G.J. van de Winkel, "The amendment to the ofatumumab agreement clearly highlights Genmab and GSK's commitment to further develop this important product. We have a really excellent partner in GSK. Their flexibility has allowed us to not only ensure that we extract the best possible value from ofatumumab, but also strengthen the financial security of Genmab."