Scancell Holdings plc announced that Genmab has exercised its option to license a Scancell investigational anti-glycan monoclonal antibody whereby Genmab has the exclusive right to develop and commercialize the Scancell antibody in multiple novel therapeutic products. Scancell will be eligible to receive upfront and development and commercialization milestone payments, as well as royalties on products sold. Scancell is to receive an upfront payment and potential development, regulatory- and commercial milestone payments of up to a maximum of $630 million if Genmab develops and commercializes products across all defined modalities.

Scancell will also receive low single-digit royalties from Genmab on net sales of all such commercialized products. The Scancell anti-glycan monoclonal antibody is a humanised antibody developed by Scancell, using its novel anti-cancer GlyMab® platform. This is one of five monoclonal antibodies currently in Scancell's antibody portfolio, which provides a rich reservoir of potential products for its in-house clinical development and further deals.

This is the second commercial licence agreement Scancell has signed with Genmab following an earlier agreement signed in October 2022.