An influx of late-phase programs has prompted Genmab to reassess its bets. The biotech is axing three early-stage clinical programs to accelerate investment in its recently expanded phase 3 pipeline.
At the start of the year, Genmab’s late-phase activities were limited to Epkinly, the bispecific CD20xCD3 T-cell engager that it is co-developing with AbbVie. The biotech chose to add a second candidate in April when it inked a $1.8 billion deal to buy ProfoundBio for a rival to AbbVie’s Elahere. It had a third asset thrust into its hands in August when BioNTech pulled out of work on acasunlimab.
Genmab is prioritizing Epkinly, ProfoundBio’s rinatabart sesutecan (Rina-S) and acasunlimab. With three late-phase programs to fund, the biotech is cutting back elsewhere. Jan van de Winkel, Genmab’s CEO, explained on the company’s third-quarter earnings call that the cut programs “simply didn't meet the high bar we have set internally for really having a truly differentiated therapeutic candidate.”
“After careful consideration, we have decided to terminate the early-stage clinical programs GEN1047, GEN3017 and GEN1056,” van de Winkel said. “What should be clear is that our strategic prioritization means we are very focused on maximizing the potential of our phase 3 programs Epkinly, Rina-S and acasunlimab.”
GEN1047 is a bispecific antibody that targets CD3 and B7-H4 to treat solid tumors. Pfizer terminated development of a similar bispecific one year ago, but B7-H4 remains a target of interest for multiple drug developers. AstraZeneca posted phase 1/2a data on an antibody-drug conjugate aimed at the target in September.
GEN3017 is a CD3xCD30 bispecific antibody. Genmab began a phase 1 lymphoma trial of the candidate last year. CD30 is the target of Adcetris, an ADC now owned by Pfizer. Tessa Therapeutics aimed a CAR-T at the target, but the company dissolved last year.
GEN1056 is part of Genmab’s collaboration with BioNTech. The partners moved the solid tumor drug candidate into the clinic two years ago without disclosing its target. GEN1056 is still listed on BioNTech’s pipeline, which was updated at the start of the week.
Genmab also used the call to provide an update on GEN3014, the anti-CD38 monoclonal antibody that could be a successor to multiple myeloma powerhouse Darzalex. Johnson & Johnson, which developed Darzalex with Genmab, has the option to license GEN3014. Genmab said it plans to send a data package to J&J by the end of the year and receive a decision on the option in the first quarter of 2025.