Genmab entered into an agreement with Bolt Biotherapeutics to develop next-generation, immune-stimulatory, antibody-based conjugate therapeutics for the treatment of cancer, the companies announced Wednesday. The parties will utilise Genmab's antibodies and bispecific antibody engineering technologies in conjunction with Bolt's Boltbody immune-stimulating antibody conjugate (ISAC) technology platform.

"Our joint vision is to leverage Genmab's and Bolt's innovative technologies to develop a completely new type of ISAC with the aim to transform the way cancer is treated," remarked Bolt chief executive Randall Schatzman. The executive added "creating bispecific ISACs turbo-charged with potent immune stimulants is a novel concept that has tremendous potential for patients."

Milestones of $285 million per drug

Under the agreed terms, Genmab will pay $10 million upfront, whilst also making a $15-million equity investment in Bolt. The companies noted that they will evaluate multiple bispecific ISAC concepts to identify up to three clinical candidates for development. Genmab will fund the research, along with the preclinical and clinical development of the therapies through clinical proof of concept.

Genmab and Bolt said that if a candidate is co-developed, development costs will be equally split between the two companies, with each firm solely responsible for commercialisation costs in their respective territories and paying each other royalties on product sales. Meanwhile, Bolt is eligible to receive total potential milestone payments of up to $285 million per therapeutic candidate, along with tiered royalties.