Report
Victor Floc’h

GENMAB: Highly anticipated Epcoritamab’s partnership signed with AbbVie | NEUTRAL | DKK2000 vs. DKK1950 (+2%)

GENMAB - NEUTRAL | DKK2000 vs. DKK1950 (+2%)
Highly anticipated Epcoritamab’s partnership signed with AbbVie

Fourth largest oncology partnership going beyond Epco alone
Epco’s financial terms are fully in line with Genmab’s wishes
CD20xCD3 Bispecifics should outperform CAR-Ts therapies
Safety seems to be the key differentiator in the CD20xCD3 bispec space
Neutral confirmed, FV increased to DKK2,000
Underlying
Genmab A/S

Genmab is a biotechnology company specializing in the creation and development of differentiated human antibody therapeutics focused on the treatment of cancer. Co.'s product pipeline includes one marketed product, Arzerra, daratumumab in late stage clinical development, four antibodies in clinical development, and over 20 in-house and partnered pre-clinical programs. Co.'s Arzerra (ofatumumab) is a human monoclonal antibody which targets an epitope on the CD20 molecule. Co.'s proprietary technologies include the DuoBody technology, which creates antibodies that can target two molecules at once, and the HexaBody technology, which allows for the creation of more potent antibodies.

Provider
Bryan Garnier
Bryan Garnier

Since 1996, Bryan, Garnier & Co has been growing with an absolute conviction that the investment banking landscape would experience a major revolution: most of the large local generalist banking groups will disappear to the benefit of a handful of global powerhouses, and an emerging group of independent, highly specialised boutique investment banks.

Analysts
Victor Floc’h

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