Genmab A/S announced today that it has entered into a strategic collaboration agreement with Tempus, a privately-owned technology company advancing precision medicine through the practical application of artificial intelligence in healthcare. The multi-year collaboration will combine Tempus’ sequencing capabilities and industry-leading platform of integrated clinical and molecular data with Genmab’s state-of-the-art translational, biomarker and target discovery expertise. The companies will work together, based upon novel insights identified by Genmab, to advance new disease targets and biomarkers that may have the potential to generate new treatments in oncology.
This new strategic collaboration builds upon existing service agreements between the companies. Under the terms of the collaboration agreement, the companies will jointly work on research projects that are identified by Genmab to explore novel product concepts and biomarkers. For any resulting products, Genmab will lead all development and commercial activities. Tempus will be eligible for undisclosed milestones and royalties from Genmab and will also have the option to fund part of product development programs in exchange for increased royalty payments due to Tempus under the agreement.
“Tempus has built the world’s largest library of clinical and molecular data, is a leader in the field of personalized medicine and like Genmab, Tempus has a mission to improve the lives of cancer patients. We are looking forward to expanding our exciting partnership with them and to the possibility of discovering important new oncology targets and biomarkers,” said Jan van de Winkel, Ph.D., Chief Executive Officer of Genmab.
Today’s news does not impact Genmab’s 2019 Financial Guidance.