Denmark's Genmab A/S (CPH:GEN) announced on Wednesday that it had granted an exclusive licence to Gilead Sciences, Inc. (NASDAQ:GILD) to use DuoBody technology to create and develop bispecific antibody candidates for a therapeutic program to target HIV.
The agreement grants Gilead an option for a second exclusive license. In return, Gilead will pay Genmab $5mln.
"We are pleased to add this agreement with Gilead to our growing list of commercial collaborations for our innovative DuoBody platform and we are particularly excited that the potential for DuoBody bispecific antibodies for treating HIV will be explored," said Jan van de Winkel, the CEO of Genmab.
The DuoBody technology platform makes it easier to discover, and produce bispecific antibodies. Scientists are using bispecific antibodies more now to help overcome technical hurdles in laboratories.
Gilead's stock was down 0.5% to $78.92.