Dec 29 (Reuters) - Genmab GMAB.CO will stop development of its experimental antibody therapy to treat cancer that was in late-stage trials, the Danish drugmaker said on Monday.
The company had assumed sole responsibility for the development and potential commercialization of acasunlimab in 2024, after BioNTech 22UAy.DE opted not to continue studying the therapy.
Acasunlimab is a bispecific antibody designed to produce an anti-tumor response by activating a receptor called 4-1BB on T cells and natural killer cells.
It was in late-stage development for solid tumors, including metastatic non-small cell lung cancer.
"Although the data have been encouraging, the compelling opportunities we see in our late‑stage pipeline led us to focus our investments where we believe we can deliver the greatest benefit for patients and shareholders," said CEO Jan van de Winkel.
Genmab will concentrate resources on programs including cancer therapies Epkinly, petosemtamab and rinatabart sesutecan, which are also in late-stage development.
The company gained access to petosemtamab through its $8 billion buyout of Dutch cancer drugmaker Merus in September. The drug is being tested for types of head and neck cancers.
Rinatabart sesutecan, which belongs to a class of drugs known as antibody drug conjugates, is being studied for ovarian and endometrial cancer.
The decision to stop acasunlimab development does not impact Genmab's full‑year 2025 forecast, the company added.
U.S.-listed shares of Genmab were trading 2% lower at $32.72 in premarket trading.
(Reporting by Sriparna Roy and Padmanabhan Ananthan in Bengaluru; Editing by Sahal Muhammed)
((Sriparna.Roy@thomsonreuters.com;))
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