Under the terms, Genmab will receive an exclusive license to three proprietary targets from Immatics, each of which has up to $550m in milestones plus royalties, with an option to license up to two additional targets at predetermined economics. The companies will conduct joint research, funded by Genmab, on multiple antibody and/or TCR-based bispecific therapeutic products. Genmab may elect to progress any resulting product candidates, and will be responsible for development, manufacturing and commercialisation. Genmab is gearing up its internal R&D activities on the back of the growing royalties and milestones income from Darzalex (daratumumab), which is licensed to Johnson & Johnson, and Arzera, which is sold by Novartis. Darzalex is approved for in combination with other therapies both for newly diagnosed and relapsed/ refractory multiple myeloma and as monotherapy for heavily pre-treated or double-refractory multiple myeloma.