Genmab Commences New Arbitration Under License Agreement With Janssen
10 6월 2022 - 6:17AM
Company Announcement
COPENHAGEN, Denmark;
June 9,
2022 –
Genmab A/S
(Nasdaq:
GMAB) announced today
that it has commenced a new arbitration under its license
agreement with Janssen Biotech, Inc. (Janssen) for
daratumumab.
This new arbitration follows from the award in the prior
arbitration, where the tribunal ruled in favor of Janssen on the
question as to whether Genmab is required to share in Janssen’s
royalty payments to Halozyme Therapeutics, Inc. for its technology
used in the subcutaneous formulation of daratumumab (marketed as
DARZALEX FASPRO® in the United States), cf. Company Announcement No
14. The tribunal based its ruling on the finding that DARZALEX
FASPRO constitutes a new licensed product under the license
agreement.
In this new arbitration, Genmab is consequently seeking an award
of $405 million plus interest in accrued milestone payments for
DARZALEX FASPRO and a declaration that it is entitled to a new
13-year royalty term from the date of DARZALEX FASPRO’s first
commercial sale.
Under the agreement, the arbitration will be conducted in New
York pursuant to the rules of the CPR Institute for Dispute
Resolution for Non-Administered Arbitration before a panel of three
arbitrators. While Genmab intends to vigorously enforce its rights,
the outcome of any arbitration proceeding, as well as its duration,
is inherently uncertain. The arbitration will be confidential,
subject to the parties’ disclosure obligations under applicable
law. Other than pursuant to these obligations, Genmab does not
intend to comment or provide additional information regarding the
arbitration until an award on the merits or other material order is
issued in the arbitration or the arbitration is otherwise
concluded. While the arbitration is pending, Genmab’s various
collaborations with Janssen will continue.
About Genmab Genmab is an international
biotechnology company with a core purpose to improve the lives of
people with cancer. For more than 20 years, Genmab’s vision to
transform cancer treatment has driven its passionate, innovative
and collaborative teams to invent next-generation antibody
technology platforms and leverage translational research and data
sciences, fueling multiple differentiated cancer treatments that
make an impact on people’s lives. To develop and deliver novel
therapies to patients, Genmab has formed 20+ strategic partnerships
with biotechnology and pharmaceutical companies. Genmab’s
proprietary pipeline includes bispecific T-cell engagers,
next-generation immune checkpoint modulators, effector function
enhanced antibodies and antibody-drug conjugates.
Genmab is headquartered in Copenhagen, Denmark with
locations in Utrecht, the Netherlands, Princeton, New Jersey, U.S.
and Tokyo, Japan. For more information, please visit Genmab.com and
follow us on Twitter.com/Genmab.
Contact: Marisol
Peron, Senior Vice President, Communications and Corporate
AffairsT: +1 609 524 0065; E: mmp@genmab.com
Andrew Carlsen, Vice President, Head of Investor RelationsT: +45
3377 9558; E: acn@genmab.com This Company Announcement contains
forward looking statements. The words “believe”, “expect”,
“anticipate”, “intend” and “plan” and similar expressions identify
forward looking statements. Actual results or performance may
differ materially from any future results or performance expressed
or implied by such statements. The important factors that could
cause our actual results or performance to differ materially
include, among others, risks associated with pre-clinical and
clinical development of products, uncertainties related to the
outcome and conduct of clinical trials including unforeseen safety
issues, uncertainties related to product manufacturing, the lack of
market acceptance of our products, our inability to manage growth,
the competitive environment in relation to our business area and
markets, our inability to attract and retain suitably qualified
personnel, the unenforceability or lack of protection of our
patents and proprietary rights, our relationships with affiliated
entities, changes and developments in technology which may render
our products or technologies obsolete, and other factors. For a
further discussion of these risks, please refer to the risk
management sections in Genmab’s most recent financial reports,
which are available on www.genmab.com and the risk factors included
in Genmab’s most recent Annual Report on Form 20-F and other
filings with the U.S. Securities and Exchange Commission (SEC),
which are available at www.sec.gov. Genmab does not undertake any
obligation to update or revise forward looking statements in this
Company Announcement nor to confirm such statements to reflect
subsequent events or circumstances after the date made or in
relation to actual results, unless required by law. Genmab A/S
and/or its subsidiaries own the following trademarks: Genmab®; the
Y-shaped Genmab logo®; Genmab in combination with the Y-shaped
Genmab logo®; HuMax®; DuoBody®; DuoBody in combination with the
DuoBody logo®; HexaBody®; HexaBody in combination with the HexaBody
logo®; DuoHexaBody® and HexElect®; DARZALEX FASPRO® is a trademark
of Johnson & Johnson.
Company Announcement no. 21CVR no. 2102 3884LEI Code
529900MTJPDPE4MHJ122
Genmab A/SKalvebod Brygge 431560 Copenhagen VDenmark
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