Genmab (NASDAQ:GMAB) today announced that it will take over full responsibility for the continued development and potential commercialization of acasunlimab, as BioNTech (NASDAQ:BNTX) decides to step back from the program under their current collaboration agreement.
The decision, influenced by BioNTech's portfolio strategy, does not signal an end to the companies' cooperation in antibody science.
Both firms will maintain their ongoing projects under the existing agreements, which were expanded in 2022.
As part of the arrangement, Genmab will handle certain milestone payments and pay BioNTech a tiered single-digit royalty on net sales of acasunlimab.
Genmab’s CEO, Jan van de Winkel, Ph.D., expressed confidence in the potential of acasunlimab, particularly highlighting its promising results in treating metastatic non-small cell lung cancer, as presented at the 2024 American Society of Clinical Oncology Meeting.
"Genmab is exceptionally well-positioned to maximize the potential of acasunlimab," said Dr. van de Winkel.
He confirmed that Genmab plans to initiate a Phase 3 study later this year and noted that this development marks acasunlimab as the company's second wholly-owned asset, alongside Rina-S.
Despite BioNTech's withdrawal from the acasunlimab program, Genmab reassured stakeholders that this change would not affect its financial guidance for 2024.
The company looks forward to continuing its productive collaboration with BioNTech on other pipeline programs.