GlaxoSmithKline acquires rights from Genmab

GlaxoSmithKline (GSK) is set to acquire Arzerra co-promotion rights from Genmab.

The deal – part of an amendment to the existing agreement – will see Genmab receive a one-time payment of $4.5 million (3.05 million pounds) from its partner.

Additionally, the company had an option to co-promote Arzerra (ofatumumab) in a targeted oncology setting, which would have also seen the co-promotion of GSK’s Bexxar, Arranon and Atriance.

Lisa Drakeman, chief executive officer of Genmab, said: “Under the amendment to our agreement, GSK will now be fully responsible for the entire sales organisation for ofatumumab.

“We believe this is the most cost effective and efficient manner to achieve market penetration and bring value to Genmab.”

An investigational monoclonal antibody, ofatumumab targets a distinct membrane-proximal small loop epitope on the CD20 molecule on B cells – which is a key therapeutic target for malignancies.

Last week, GSK gave $15 million (9.76 million pounds) in payments to Synta Pharmaceuticals under the partnership’s agreement.

The collaboration – for the development and commercialisation of elesclomol – was formed in October 2007 and has seen Synta eligible for a total of $585 million in pre-commercial milestone payments.