Genmab has agreed a deal that could be worth over $1.1
billion with a unit of Johnson & Johnson for the rights to a cancer agent,
giving the U.S. company a 10.7 percent equity stake in the Danish biotech
group.
Genmab said on Thursday that J&J unit Janssen
Biotech Inc would obtain global license rights to cancer agent daratumumab.
Janssen Biotech will make an upfront payment of $55
million for the license and Johnson & Johnson Development Corp would invest
475 million Danish crowns ($80 million) in new Genmab shares, the company said.
I would
just wish J&J good luck with this deal: I hope that they know what they are
doing! Monoclonal
antibodies are still very sexy for Big Pharma, let them burn some more
money!
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