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Genmab gains traction

Country

Denmark

Genmab A/S moved a step closer towards its goal of becoming a fully integrated biotech in 2020 following a licensing deal with AbbVie Inc which pushed revenue higher and put the Danish company on course to co-develop three bispecific antibody compounds. The agreement, concluded in June, delivered an upfront payment of $750 million, helping to deliver significantly higher revenue for the year.

Merck withdraws lung cancer indication for Keytruda

Country

United States

Merck & Co Inc has voluntarily withdrawn the metastatic small cell lung cancer indication for Keytruda (pembrolizumab) following the results of a Phase 3 study which didn’t support the terms of its earlier accelerated approval from the US Food and Drug Administration. The FDA awards accelerated approvals to certain drugs, based on surrogate endpoints, but confirmation of clinical benefit needs to be verified in subsequent trials.

Oxular secures $37 million for retinal treatments

Country

United Kingdom

UK-based Oxular Ltd has secured $37 million in venture finance to advance its lead product for diabetic macular edema (DME) into Phase 2 as well as support earlier stage ophthalmologic products. The venture capital firm Forbion led the financing, which included existing investors IP Group, NeoMed and V-Bio Ventures.