NEW YORK – Genmab said today that it has entered into a strategic collaboration with Tempus to apply artificial intelligence to biomarker and target discovery in oncology.
Under the agreement, Copenhagen, Denmark-based Genmab will identify research projects for both companies to work on in pursuit of new drug targets and biomarkers. The partners will then will apply Tempus' sequencing and bioinformatics technology. Genmab will lead development and commercialization for any resulting products, though Tempus would be eligible for milestone and royalty payments.
While financial terms were not disclosed, Chicago-based Tempus, a rapidly expanding sequencing and informatics company, has the option to fund part of any resulting product development programs with the promise of higher royalty payments, according to Genmab.
This deal represents an expansion of previous service agreements between the companies into a full-fledged collaboration.