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Medarex to Own 32 Percent of Genmab

NEW YORK, July 25 - Genmab of Copenhagen announced today that it would issue 247,000 new shares of the company to GenPharm, a subsidiary of Medarex, leaving the Princeton, N.J.-based company with 32 percent ownership of Genmab.

 

The move came as a result of Genmab's decision to pay in company shares rather than in cash its annual licensing fee of $2 million to Medarex.

 

According to an August 2000 agreement, Genmab must pay Medarex $2 million per year through 2004 in exchange for the exclusive rights to market Medarex's transgenic mouse technologies and the right to access technologies acquired by Medarex.

The Scan

US Booster Eligibility Decision

The US CDC director recommends that people at high risk of developing COVID-19 due to their jobs also be eligible for COVID-19 boosters, in addition to those 65 years old and older or with underlying medical conditions.

Arizona Bill Before Judge

The Arizona Daily Star reports that a judge weighing whether a new Arizona law restricting abortion due to genetic conditions is a ban or a restriction.

Additional Genes

Wales is rolling out new genetic testing service for cancer patients, according to BBC News.

Science Papers Examine State of Human Genomic Research, Single-Cell Protein Quantification

In Science this week: a number of editorials and policy reports discuss advances in human genomic research, and more.