COPENHAGEN—In a strategic pivot following BioNTech (NASDAQ: BNTX)’s withdrawal from their co-development partnership on the PD-L1 x 4-1BB bispecific antibody acasunlimab, Denmark-based Genmab A/S (NASDAQ: GMAB) is reportedly seeking a commercial partner for its entry into the China market. This update was provided by CEO Jan Van de Winkel during the company’s H1 2024 earnings call.
Van de Winkel highlighted that instead of seeking a new development partner, Genmab is poised to capitalize on full control over acasunlimab, allowing the company to retain all future revenues and profits from the molecule. The Danish biopharmaceutical firm has demonstrated its capability to independently manage drug marketing in the US and Japan, as evidenced by its lymphoma drug Tepkinly (epcoritamab) and cervical cancer antibody Tivdak (tisotumab vedotin).
The company is also expanding its operational capabilities in the EU’s top four markets plus the UK. However, when it comes to China, which is known for its distinct bureaucratic processes, Van de Winkel acknowledged the necessity of a local partner. “China is of course developing rapidly, but it is and will be very difficult to launch there ourselves because their bureaucracy works completely differently,” he stated, as reported by Medwatch.
Currently, Genmab has no approved products in the China market. Its antibody drug conjugate (ADC) Tepkinly, developed in partnership with Pfizer’s Seagen Inc., was licensed to Zai Lab for development in Greater China in a 2022 deal. This strategic approach suggests that Genmab is considering a similar partnership model for its future endeavors in the Chinese market.- Flcube.com
