Genmab through collaboration with Blink biomedicals raised a whopping $503 Million through an American initial public offering (IPO) all this got revealed on Friday during an event. Genmab also launched an up to $200 million-per-product cancer therapy with Blink biomedicals.
Blink biomedicals got a license approved by Genmab exclusively for antibodies targeting CD47, which Genmab plans to combine with its duo body platform technology to produce new bispecific antibodies for fighting cancer. Genmab CEO Jan van de Winkel, Ph.D. gave his words about this CD47 stating that “CD47 has shown potential as the target for cancer and we believe that the bispecific approach may open up a potential for differentiated therapies,”
Blink biomedicals is a company based in Marseille, France that is privately-held and focuses primarily on the development process along with some new explorations and introductions in the field of therapeutic antibodies in oncology and immuno-oncology.
Blink biomedicals are reported to receive $2.25 million upfront, and up to $200 million-per-product for developmental, regulatory, and commercial milestones sort of work. Blink biomedicals also have royalties tied to their name for some previous works as well. “Advancing our pipeline of differentiated and the well-tolerated antibodies,” stated Genmab, for their collaboration with Blink biomedicals. Genmab highlighted this collaboration as a thing of priority. Not just with Blink biomedicals, Genmab is also working with other big companies as well. Genmab is currently working with Seattle genetics for the clinical candidate, tisotumab vedotin, which is in Phase II in cervical cancer, ovarian cancer, and solid cancers.