Scancell Holdings PLC (AIM:SCLP, OTC:SCNLF) has unveiled a licensing agreement with Genmab (CSE:GEN) that could generate up to $630 million in payments, alongside royalties.
The deal gives the Danish biotech exclusive global rights to develop and commercialise a monoclonal antibody from the UK drug developer's GlyMab platform.
The agreement, Scancell’s second with Genmab (CSE:GEN), includes an upfront payment and milestone payments tied to development, regulatory, and commercial achievements.
In addition to these payments, Scancell will earn royalties on the net sales of any products developed under the deal.
The licensed antibody is part of a portfolio that consists of five monoclonal antibodies targeting glycan structures linked to cancer.
This agreement builds on an initial collaboration between the two companies announced in June.
"This option exercise for another anti-glycan monoclonal antibody from the Glymab platform builds on our existing relationship with Genmab," said chief scientific officer Lindy Durrant.
"The commercial license agreement follows an exclusive evaluation period, which further validates that our Glymab antibody platform can generate novel, differentiated, highly tumour-specific antibodies for therapeutic development.
"We are positive about continuing to work with Genmab and providing further updates to the market on both agreements as they progress."