Could you introduce Genmab and its primary focus?
Genmab is a biotechnology company focused on the discovery, development, and commercialization of antibody therapeutics for treating cancer and other serious diseases. We have created several next-generation antibodies now approved for treating certain cancers but also targeting diseases which had limited treatment options. While our historical focus has been on oncology, we've expanded our scope to include inflammation and immunology. Over the past six years, Genmab has undergone rapid growth, evolving from a research-focused entity to a comprehensive end-to-end biotech organization. We've grown our team to nearly 3,000 employees globally and have successfully launched two commercial products.
How do you view the evolution of cancer treatment and Genmab's role in this progress?
At Genmab, we share the industry-wide vision of transforming cancer into a chronic, treatable condition. Genmab is a scientific leader in antibody research, inspired by the power of the human immune system to fight diseases. We have a laser sharp focus on antibodies. Our approach involves targeting medicine to increase the efficacy and safety of cancer treatments for individual patients. As the industry continues to innovate and invest in clinical trials, we're moving closer to realizing this vision. On a personal note, having witnessed the impact of cancer within my own family, I understand the significance of our progress and the distance we still need to cover. Genmab is committed to playing a pivotal role in this journey.
What are the latest developments and research at Genmab, especially regarding AI?
At Genmab, AI is a major focus, though we're in the early stages of exploring its full potential.
We have established an AI incubator to foster innovation, generating over 140 concepts in various areas of our operation.
Our initial AI applications are creating efficiencies in routine tasks, such as document review, reducing time, cost, and human error. Looking forward, we anticipate AI will play a significant role in predictive analysis and protein design. We are also preparing for AI's impact on our workforce, developing strategies to manage the transition effectively.
What is Genmab's approach to ESG and inclusion?
Genmab is committed to implementing meaningful sustainability practices that align with our business. Our focus areas include employee well-being, gender diversity, and reducing our carbon footprint. We aim for zero carbon emissions from scope one and two sources in the near term and aspire to achieve zero emissions in scope three by 2030. Genmab prides itself on being a diverse company, with more than 50% female representation in our workforce, including leadership positions. This diversity is integral to our innovation and culture. Despite our rapid growth, we maintain low employee turnover and high engagement scores, underscoring our commitment to employee well-being.
How important are collaborations and partnerships in research and development in the pharma space?
Partnerships are fundamental to Genmab's DNA and business model. We believe in creating an innovation ecosystem and have partnerships with more than 20 other biotech and pharma companies, academia, research institutes, and data science companies to unlock new approaches and solutions with the goal of truly transforming treatment of cancer. We selectively collaborate with companies having complementary infrastructure and capabilities, such as our collaborations with Janssen, AbbVie, and BioNTech. These partnerships leverage combined strengths to deliver meaningful therapies. Our partnership model has proven successful in bringing innovations like Darzalex to market, benefiting millions of patients worldwide and creating value for stakeholders.
What is the key to Genmab's impressive 30% yearly growth?
The key to our significant yearly growth lies in our culture. While having a strong pipeline, science, and leadership is crucial, a rich, consistent, authentic culture is the anchor that drives everyone towards our mission. This culture keeps the team aligned and inspired through challenges and successes and has led to consistent employee engagement scores of over 80% year over year. It has been the enabler of our growth, allowing us to expand exponentially while maintaining our core values and objectives.
What could Genmab have done better and what are the future plans for improvement?
Genmab continues to deliver on our promise to bring new medicine to patients and this has put us on a strong financial base to grow and strengthen our R&D and commercial capabilities. As we transition from a period of foundational growth to achieving operational efficiency, we recognize the need for evolution. While our focus on antibody science remains unchanged, our past strategies, while successful, need to adapt to enable us to scale efficiently. For instance, having successfully run a global registrational trial and secured approvals in multiple regions, our aim now is to optimize our processes to handle multiple such trials simultaneously. This transition to an optimization phase is a critical inflection point in Genmab's evolution, focusing on streamlining operations while maintaining our growth trajectory. As we evolve to an integrated biotechnology company, we are also bringing the same rigor and innovation to bring our medicines to patients through our commercial teams.
