Genmab

What Genmab does

Genmab A/S is a Copenhagen-headquartered, dual-listed (Nasdaq Copenhagen and Nasdaq US under GMAB) international biotechnology company that creates, develops, and commercializes antibody-based therapeutics for cancer and other serious diseases. The company was founded in 1999 and operates four proprietary antibody technology platforms — DuoBody (bispecific antibodies), HexaBody (antibody hexamerization for enhanced potency), DuoHexaBody (combination platform), and HexElect (dual-HexaBody selectivity) — plus an expanded Antibody-Drug Conjugate (ADC) capability acquired through ProfoundBio in May 2024 for $1.8 billion. These platforms have produced eight approved medicines, including DARZALEX (daratumumab, licensed to Johnson & Johnson), Kesimpta (ofatumumab, Novartis), Tepezza (teprotumumab, Amgen), Arzerra (ofatumumab, Novartis), and Genmab's own proprietary EPKINLY (epcoritamab, co-developed with AbbVie for hematologic malignancies) and Tivdak (tisotumab vedotin, co-developed with Pfizer for cervical cancer). EPKINLY is approved in 65+ countries and Tivdak has been approved in the US, EU, and Japan.

Genmab generates revenue through a hybrid model combining royalties on partnered product net sales (DARZALEX is the largest contributor, with $3.964 billion in worldwide net sales reported by J&J in Q1 2026), milestone payments tied to regulatory and commercial achievements, and growing proprietary product sales from EPKINLY and Tivdak. FY2025 revenue was $3.72 billion (+19% YoY), with Q1 2026 revenue of $896 million (+25% YoY) and proprietary medicine sales growing 54% to $632 million in 2025. In December 2025, Genmab completed an $8 billion acquisition of Merus N.V., adding the FDA Breakthrough-Therapy-Designated bispecific petosemtamab for head-and-neck squamous cell carcinoma, and funded this via a $2.5 billion notes offering alongside a $2 billion term loan. The company employs more than 3,000 staff across North America, Europe, and Asia Pacific, and operates with approximately 20 compounds in clinical development while pursuing an AI-augmented R&D strategy anchored by a January 2026 partnership with Anthropic.

Name

Genmab

Legal name

Genmab A/S

Website

https://genmab.com

Company type

Public

Founded year

1999

Operating status

Operating

Headcount range

1,001–5,000 employees

Short description

Genmab A/S is a Copenhagen-based, dual-listed biotechnology company that develops and commercializes antibody therapeutics for cancer and other serious diseases using proprietary bispecific and hexamerization platforms, earning revenue from royalties (DARZALEX via J&J) and proprietary co-developed medicines (EPKINLY with AbbVie, Tivdak with Pfizer).

Ownership category

akta.pro rank

Product category

Biotechnology / Antibody Therapeutics

NAICS

Biological Product (except Diagnostic) Manufacturing (325414), Pharmaceutical Preparation Manufacturing (325412), Research and Development in Biotechnology (except Nanobiotechnology) (541714)

SIC

Biological Products, (No Disgnostic Substances) (2836), Pharmaceutical Preparations (2834)

akta.pro industry

PRIMARYHLAAAIAB

Antibody Discovery & Engineering Platforms (display tech, bispecifics, Fc engineering)

Healthcare & Life Sciences/Biotechnology & Biologics/Biologic Drug Discovery Platforms (screening, antibody engineering, synthetic biology)

Keywords

• Antibody therapeutics
• Oncology drug development
• Bispecific antibody platform
• Antibody-drug conjugates
• Biopharmaceutical medicines

Headquarters

HQ city

Valby

HQ country

Denmark

HQ region

Europe

Offices10 records

Markets served

GTM type

B2B

Offering type

Hardware or Manufacturing

Cost components

Technology or R&D, Personnel, Operations, Marketing or Sales, Others

Revenue model

1. Royalties from Partnered Products: Genmab receives royalties on worldwide net sales of partnered antibody medicines including DARZALEX (daratumumab) from Johnson & Johnson and Kesimpta (ofatumumab) from Novartis. DARZALEX royalties represent a significant portion of revenue, with the drug generating $3.964 billion in Q1 2026 worldwide net sales.
2. Proprietary Product Sales: Revenue from net product sales of proprietary medicines including EPKINLY (epcoritamab) in the US and Japan, and Tivdak (tisotumab vedotin). EPKINLY is co-promoted with AbbVie in the US and Japan. Tivdak is co-commercialized with Pfizer in the US.
3. Milestone Payments: One-time payments from partners upon achievement of regulatory milestones, clinical trial进展, and commercialization achievements. Genmab receives milestone income as partnered products advance through development and approval.
4. Anthropic AI Partnership: Partnership with Anthropic to deploy Claude-powered agentic AI solutions across research and clinical development operations to accelerate data processing, analysis, and document generation.

Go-to-market motion2 records

Distribution channels3 records

Marketing channels4 records

Core offering

Genmab discovers, develops, and commercializes antibody-based therapeutics for cancer and other serious diseases. Its commercial portfolio includes the proprietary medicines EPKINLY (epcoritamab) and TIVDAK (tisotumab vedotin), co-promoted with AbbVie and Pfizer respectively, alongside out-licensed antibody medicines including DARZALEX (marketed by Johnson & Johnson) and KESIMPTA (marketed by Novartis). The company's pipeline is built on four proprietary antibody technology platforms (DuoBody, HexaBody, DuoHexaBody, HexElect) plus an expanded ADC platform, and includes approximately 20 compounds in clinical development.

Product overview

Genmab is an international biotechnology company that creates, develops and commercializes antibody therapeutics to treat cancer and other serious diseases. The company's portfolio consists of two proprietary marketed medicines (EPKINLY for hematologic malignancies and TIVDAK for cervical cancer, both co-developed with partners), eight approved therapies incorporating Genmab innovation (including DARZALEX, KESIMPTA, TEPEZZA, and Arzerra out-licensed to major pharma companies), approximately 20 compounds in clinical development, four proprietary technology platforms (DuoBody, HexaBody, DuoHexaBody, HexElect), and an expanded ADC platform acquired through ProfoundBio. Genmab operates with a hybrid business model combining royalty income from partnered products with proprietary medicine sales, and is transitioning from a primarily royalty-based model toward becoming an integrated biopharma player.

Differentiator

Problem solved

Functional benefit

Products and services

• EPKINLY (epcoritamab) A subcutaneous bispecific CD3xCD20 antibody developed using Genmab's DuoBody technology, co-developed and co-promoted with AbbVie for the treatment of relapsed/refractory diffuse large B-cell lymphoma (DLBCL) and follicular lymphoma. EPKINLY demonstrated a 60% reduction in disease progression or death risk versus chemoimmunotherapy when combined with lenalidomide (HR 0.40), a 93% overall response rate with R-mini-CHOP in elderly newly diagnosed DLBCL, an 82% overall response rate in relapsed/refractory follicular lymphoma, and a 67% overall response rate in chemotherapy-ineligible elderly patients. It is approved in more than 65 countries.
• TIVDAK (tisotumab vedotin) An antibody-drug conjugate (ADC) targeting tissue factor (TF), co-developed and co-promoted with Pfizer/Seagen for the treatment of recurrent or metastatic cervical cancer. First regulatory approval was in the US in 2021, with approvals in Europe and Japan following in 2025.
• DARZALEX (daratumumab) A CD38 antibody developed using Genmab's DuoBody technology and licensed exclusively to Johnson & Johnson (Janssen) for the treatment of multiple myeloma, smouldering multiple myeloma, and AL amyloidosis. DARZALEX generated $14.351 billion in worldwide net sales in 2025 and has been used to treat 748,000+ patients worldwide since first approval. Genmab receives royalties on all DARZALEX sales (IV and subcutaneous formulations).
• KESIMPTA (ofatumumab) A CD20 antibody commercialized by Novartis for the treatment of relapsing forms of multiple sclerosis. The product generates royalties for Genmab as part of its royalty portfolio.
• TEPEZZA (teprotumumab) An IGF-1R antibody developed and commercialized by Amgen for the treatment of thyroid eye disease (Graves' ophthalmopathy).
• Arzerra (ofatumumab) A CD20 antibody originally developed by Genmab and GSK for chronic lymphocytic leukemia (CLL). Rights were transferred to Novartis, and the product is currently marketed in certain regions.
• Rinatabart Sesutecan (Rina-S) A topoisomerase I inhibitor antibody-drug conjugate acquired through Genmab's $1.8 billion acquisition of ProfoundBio in May 2024. Rina-S is currently in Phase 3 testing for endometrial and ovarian cancers (GCT1184-01 through GCT1184-05 trials) and has demonstrated a tolerable safety profile in combination with bevacizumab in advanced ovarian cancer.
• Petosemtamab (MCLA-158) A bispecific EGFRxLGR5 antibody acquired through Genmab's $8 billion acquisition of Merus N.V. in December 2025. Petosemtamab received FDA Breakthrough Therapy Designation for head and neck squamous cell carcinoma, with expected regulatory approval by 2027 and revenue potential by 2029.

Quantifiable outcome

• 60% reduction in risk of disease progression or death with epcoritamab + lenalidomide vs chemoimmunotherapy in relapsed/refractory DLBCL (HR 0.40)
• +3 more outcomes

Named customers4 records

Segments2 records

Ideal customer profiles2 records

Technology focussed Yes

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Feature6 records

Partnerships

13 partnerships are on record, tiered strategic, minor and core.

• AnthropicstrategicTechnology or Integration · 7 January 2026Partnership to deploy Claude-powered agentic AI solutions across Genmab's research and clinical development operations. Goal is to accelerate data processing, analysis, and document generation within defined guardrails and human oversight to bring therapies to patients faster.
• argenxminorStrategic or Co-development Partner · 1 May 2023Stepping stone partnership to broaden Genmab's vision beyond oncology into immunology and inflammation. Strategic collaboration leveraging Genmab's antibody expertise with argenx's immunology focus.
• LundbeckminorStrategic or Co-development Partner · 1 May 2023Joint licensing agreement for amlenetug, being developed for multiple system atrophy (MSA). Lundbeck leads development with Genmab. Amlenetug has received Orphan Drug Designation in EU, Japan, and US, and Fast Track designation in US.
• AbbViecoreStrategic or Co-development Partner · 1 October 2020Broad oncology collaboration for epcoritamab (EPKINLY/Tepkinly), a CD3xCD20 bispecific antibody. Genmab and AbbVie co-develop and co-promote in the US and Japan, with AbbVie responsible for further global commercialization. The partnership includes multiple clinical trials and regulatory submissions across DLBCL and follicular lymphoma indications.
• Novo NordiskminorStrategic or Co-development Partner · 1 April 2020DuoBody technology partnership for antibody therapeutics development outside oncology.
• BioNTechminorStrategic or Co-development Partner · 1 March 2020DuoBody technology partnership for antibody therapeutics development. BioNTech contributing expertise in mRNA and immunotherapy.
• Johnson & Johnson (Janssen)coreStrategic or Co-development Partner · 1 August 2012Exclusive worldwide license agreement for DARZALEX (daratumumab). Genmab receives royalties on all DARZALEX sales (IV and subcutaneous formulations) from Janssen Biotech. DARZALEX is approved for multiple myeloma, smouldering multiple myeloma, and AL amyloidosis, generating over $3.9 billion in quarterly net sales.
• Pfizer (formerly Seagen)coreStrategic or Co-development Partner · 1 October 2011Co-development and co-commercialization of Tivdak (tisotumab vedotin) for cervical cancer. Pfizer acquired Seagen (the original partner) in 2023. Tivdak received first regulatory approval in the US (2021) and has since been approved in Europe and Japan.
• ADC TherapeuticsminorStrategic or Co-development PartnerStrategic partnership for antibody-drug conjugate development using proprietary technologies.
• AmgenminorStrategic or Co-development PartnerPartnership for development of antibody-based therapeutics leveraging Genmab's technology platforms.
• Bristol-Myers Squibb (BMS)minorStrategic or Co-development PartnerStrategic partnership for development of DuoBody antibody therapeutics.
• RocheminorStrategic or Co-development PartnerEarly collaboration with Roche for antibody development (first major partnership at founding).
• NovartisminorStrategic or Co-development PartnerPartnership for development and commercialization of ofatumumab (Kesimpta) for autoimmune diseases.

Scale indicators14 records

Recent moves9 records

Expansion highlights6 records

Direct peers

• Regeneron Pharmaceuticals: Direct peer as an antibody-focused biotech with proprietary technology platforms (VelocImmune, Bispecific platform) and multiple commercialized antibody medicines including bispecifics like Linvoseltamab and odronextamab. Comparable to Genmab's bispecific antibody focus and integrated R&D-to-commercial model.
• argenx: Direct peer and existing Genmab partner, focused on antibody-based therapeutics for autoimmune diseases and immunology. Comparable given their shared antibody engineering expertise, partnership-based business model, and use of differentiated Fc-engineering platforms.

Broad incumbents

• AbbVie: Broad incumbent in oncology and immunology with a major antibody portfolio (including Humira, Skyrizi, Rinvoq) and is Genmab's co-development partner for EPKINLY. Comparable as a major biopharma commercializing antibody therapeutics in the same indications.
• Bristol-Myers Squibb: Broad incumbent with a substantial antibody and bispecific portfolio (Opdivo, Yervoy, Lunsumio, Epkinly competitor). Existing Genmab DuoBody partner and competes in similar hematologic oncology indications.
• AstraZeneca: Broad incumbent with major oncology and antibody franchise (Enhertu ADC, bispecifics like Imfinzi combinations, Datroway). Comparable given its ADC investment (via Daiichi Sankyo) directly competing with Genmab's expanded ADC platform.
• Amgen: Broad incumbent biotech with a major antibody portfolio including bispecifics (Blincyto, Imdelltra) and Genmab platform partner. Comparable as both a partner and a competitor in antibody therapeutics for oncology.
• Roche: Broad incumbent with the largest oncology antibody franchise globally (Herceptin, MabThera, Hemliba, Columvi bispecific) and Genmab's first major partner. Comparable as a major antibody innovator and competitor across multiple oncology indications.
• Pfizer: Broad incumbent pharmaceutical company and Genmab's co-development/co-promotion partner for TIVDAK. Comparable as a major oncology player with both antibody therapeutics (via Seagen acquisition) and competing ADC programs.
• Johnson & Johnson: Broad incumbent and Genmab's most important commercial partner via the exclusive DARZALEX worldwide license. Comparable as a major oncology biopharma and the source of Genmab's largest royalty stream.

Emerging players

• BioNTech: Emerging player with a DuoBody technology platform partnership with Genmab and growing antibody therapeutics pipeline in oncology. Comparable given shared bispecific antibody technology access and oncology focus.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat6 records

Key risks6 records

Key highlights7 records

Customer concentration

• Xx.com/genmab
• LinkedInlinkedin.com/company/genmab
• Facebookfacebook.com/151913858257522

Revenue estimate

Valuation estimate

Number of profiles

Profiles18 records

Subsidiaries9 records

Funding overview

Funding rounds7 records

Investors7 records

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M&A2 records

Investments1 record

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Frequently asked questions about Genmab