DGAP-Ad hoc: Genmab A/S

DGAP-Adhoc: Genmab Reaches Second Milestone in Lundbeck Collaboration

Genmab A/S

10.02.2012 08:38

Dissemination of a Adhoc News, transmitted by DGAP - a company of EquityStory AG. The issuer is solely responsible for the content of this announcement.

---------------------------------------------------------------------------

- Second pre-clinical milestone met in Lundbeck collaboration - [Eur]1 million milestone payment to Genmab

Copenhagen, Denmark; February 10, 2012 - Genmab A/S (OMX: GEN) announced today it had reached the second pre-clinical milestone in the collaboration with H. Lundbeck A/S, triggering a [Eur]1 million payment.

Genmab has reached the second milestone in the collaboration with H. Lundbeck A/S to create and develop human antibody therapeutics for disorders of the central nervous system (CNS). The milestone triggers a payment of [Eur]1 million to Genmab. Under the collaboration with Lundbeck Genmab creates novel human antibodies to three targets identified by Lundbeck and Lundbeck has access to Genmab's antibody creation and development capabilities, including its state of the art, fully automated pre-clinical antibody screening and characterization capabilities and its proprietary stabilized IgG4 and UniBody therapeutic antibody platforms.

Under the terms of the agreement, Genmab received an upfront payment of [Eur]7.5 million in October 2010 (approximately DKK 56 million). Lundbeck fully funds the development of the antibodies. If all milestones in the agreement are achieved, the total value of the agreement to Genmab would be approximately [Eur]38 million (approximately DKK 283 million), plus single-digit royalties.

'We are very pleased to have met the in vitro proof of concept milestone for another target in the Lundbeck collaboration. This partnership is progressing well, with this second milestone coming shortly after we achieved the first preclinical milestone in December last year,' said Jan van de Winkel, Ph.D., Chief Executive Officer of Genmab.

About Genmab A/S Genmab is a publicly traded, international biotechnology company specializing in the creation and development of differentiated human antibody therapeutics for the treatment of cancer. Founded in 1999, the company's first marketed antibody, ofatumumab (Arzerra(r)), was approved to treat chronic lymphocytic leukemia in patients who are refractory to fludarabine and alemtuzumab after less than eight years in development. Genmab's validated and next generation antibody technologies are expected to provide a steady stream of future product candidates. Partnering of innovative product candidates and technologies is a key focus of Genmab's strategy and the company has alliances with top tier pharmaceutical and biotechnology companies. For more information visit www.genmab.com.

Contact: Rachel Curtis Gravesen, Senior Vice President, Investor Relations & Communication T: +45 33 44 77 20; M: +45 25 12 62 60; E: r.gravesen@genmab.com

This Company Announcement contains forward looking statements. The words 'believe', 'expect', 'anticipate', 'intend' and 'plan' and similar expressions identify forward looking statements. Actual results or performance may differ materially from any future results or performance expressed or implied by such statements. The important factors that could cause our actual results or performance to differ materially include, among others, risks associated with pre-clinical and clinical development of products, uncertainties related to the outcome and conduct of clinical trials including unforeseen safety issues, uncertainties related to product manufacturing, the lack of market acceptance of our products, our inability to manage growth, the competitive environment in relation to our business area and markets, our inability to attract and retain suitably qualified personnel, the unenforceability or lack of protection of our patents and proprietary rights, our relationships with affiliated entities, changes and developments in technology which may render our products obsolete, and other factors. For a further discussion of these risks, please refer to the risk management sections in Genmab's most recent financial reports, which are available on www.genmab.com. Genmab does not undertake any obligation to update or revise forward looking statements in this Company Announcement nor to confirm such statements in relation to actual results, unless required by law.

Genmab(r); the Y-shaped Genmab logo(r); HuMax(r); HuMax-CD20(r); HuMax(r)-EGFr; HuMax(r)-IL8; HuMax(r)-TAC; HuMax(r)-CD38; HuMax(r)-TF; HuMax(r)-Her2; HuMax(r)-cMet, HuMax(r)-CD74, DuoBody(tm) and UniBody(r) are all trademarks of Genmab A/S. Arzerra(r) is a trademark of GlaxoSmithKline.

Company Announcement no. 02 CVR no. 2102 3884

Genmab A/S Bredgade 34 1260 Copenhagen K Denmark

Click on, or paste the following link into your web browser, to view the associated documents

https://newsclient.omxgroup.com/cds/DisclosureAttachmentServlet?messageAttachmentId=377760

News Source: Nasdaq OMX



10.02.2012 DGAP's Distribution Services include Regulatory Announcements, Financial/Corporate News and Press Releases. Media archive at www.dgap-medientreff.de and www.dgap.de

--------------------------------------------------------------------------- Language: English Company: Genmab A/S Denmark Phone: Fax: E-mail: Internet: ISIN: DK0010272202 WKN: End of Announcement DGAP News-Service ---------------------------------------------------------------------------