Janssen acquires cancer drug from Genmab

Janssen has purchased rights to an innovative anti-cancer compound with potential efficacy against multiple myeloma.

The firm has agreed an exclusive deal with Genmab to develop and commercialise daratumumab, in exchange for an upfront payment, milestone-based fees and an equity investment in Genmab by Janssen's parent company Johnson and Johnson.

Daratumumab, also known as HuMax-CD38, is a human CD38 monoclonal antibody currently in phase I/II studies as a treatment for relapsed refractory multiple myeloma, with Genmab to be responsible for completing these studies.

The acquisition complements Janssen's pioneering work with monoclonal antibodies and market leadership in the field of biologics.

Dr William Hait, head of research and development at Janssen, said: "Daratumumab is an exciting, innovative compound and we are delighted to add it to our portfolio."

Last month, it was announced that Janssen recently paid a milestone fee to partner Pharmacyclics based on the ongoing successful development of the lymphoma drug ibrutinib.