Medarex, BankInvest Biomedical Development Venture Fund deal

MEDX and BankInvest created Genmab, a joint venture to develop human antibodies derived from MEDX's HuMAb-Mouse technology. BankInvest and other investors, including A/S Dansk Erhvervsinvestering, provided initial funding to Genmab of DKK35.4 million ($5.5 million). Genmab will focus on products to treat inflammatory diseases, and received from MEDX rights to license the HuMAb mouse to develop antibodies against up to nine different antigens. Genmab also received an exclusive license outside Asia and Europe to MDX-CD4, an antibody in Phase I/II trials to treat rheumatoid arthritis. ...