Genmab Takes Control of Lung Cancer Drug Development After BioNTech Exits Program

By Michael Susin

Genmab said on Monday that it will assume sole responsibility for the continued development and potential commercialization of a potential lung cancer therapy after BioNTech decided to exit the joint program.

The company said the development of the acasunlimab program, a drug candidate to treat patients with metastatic non-small cell lung cancer, will be subject to payment of certain milestones and a tiered single-digit royalty on net sales by Genmab to BioNTech.

The decision is not expected to impact Genmab's 2024 financial guidance, the biotechnology company said.

Genmab said it plans to start the phase 3 trial for acasunlimab in the second half of 2024.

"While the emerging clinical profile of acasunlimab is encouraging, BioNTech informed the company that it has taken this decision for reasons relating to its portfolio strategy. The companies' long-standing collaboration in antibody science remains in place," it added.

Genmab shares at premarket trading were down 5.4% at $26.71

Write to Michael Susin at michael.susin@wsj.com

(END) Dow Jones Newswires

August 05, 2024 07:30 ET (11:30 GMT)

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