Genmab, Serono deal

GEN granted SEO exclusive worldwide rights to develop and commercialize HuMax-CD4 zanolimumab to treat cutaneous T cell lymphoma (CTCL) and non-cutaneous T cell lymphoma (NCTCL). GEN will receive a $20 million license fee and is eligible for milestones and royalties. SEO also agreed to purchase about 2.5 million GEN shares at DKK121.93 for a total of DKK304.6 million ($50.8 million). The purchase price is a 20% premium to GEN's close of DKK102 on Aug. 17, the day before the deal was announced. In total, GEN could receive up to $215 million from the deal. ...