Genmab Announces RG1507 Update
Copenhagen, Denmark; December 4, 2009 - Genmab A/S (OMX: GEN) announced today that Roche has informed Genmab that it will discontinue development of RG1507, a monoclonal antibody directed against the insulin-like growth factor-1 receptor (IGF-1R). The decision was due to the available clinical data, the large number of molecules targeting the same pathway that are presently in development and the prioritization of the Roche portfolio. The decision was not as a result of safety concerns.
RG1507 is a fully human antibody created by Genmab under its collaboration with Roche. RG1507 was in Phase II development for multiple indications including sarcoma and non small cell lung cancer.
"Despite this setback, Roche and Genmab continue to have a strong working relationship, with one shared aim of developing and providing novel efficacious agents to the patients that need them," said Lisa N. Drakeman, Ph.D., Chief Executive Officer of Genmab.
Posted: December 2009