Ailsa Craig, co-portfolio manager of the International Biotechnology Trust (IBT), outlines the appeal of antibody platform Genmab.
Genmab (DK:GMAB) is an exciting Danish company with a cutting-edge antibody platform that has seen the successful launch of three drugs to date – Darzalex, Kesimpta and Tepezza. This unique platform has gained attention from major pharmaceutical companies that want to explore lucrative partnership deals with the likes of Johnson & Johnson, Novartis and, more recently, Abbvie.
Their lead asset Darzalex was approved early by the the United States Food and Drug Administration in 2015. Darzalex is partnered with Johnson & Johnson, which pays Genmab a royalty on sales. The drug treats an incurable cancer indication called multiple myeloma and its global sales reached $3bn (£2.3bn) in 2019. Johnson & Johnson has since developed a Darzalex 2.0, allowing patients a treatment in three to five minutes in contrast to the current four-hour stay at a treatment centre.