Genmab Reaches Third Milestone in Lundbeck Collaboration

Genmab Reaches Third Milestone in Lundbeck Collaboration

Company Announcement

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

COPENHAGEN, Denmark, Dec. 13, 2012 (GLOBE NEWSWIRE) -- Genmab A/S
(Copenhagen:GEN) announced today it had reached the third pre-clinical
milestone in the collaboration with H. Lundbeck A/S, triggering a [Eur]1
million payment (approximately DKK 7.5 million). Under the collaboration with
Lundbeck, Genmab creates novel human antibodies to three central nervous
system (CNS) targets identified by Lundbeck and Lundbeck has access to
Genmab's antibody creation and development capabilities.

"We continue to make solid progress in our collaboration with Lundbeck, having
now reached the in vitro proof of concept milestone for the third target in
the program," said Jan van de Winkel, Ph.D., Chief Executive Officer of
Genmab.

Under the terms of the collaboration, 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.

Today's news will not have a material impact on Genmab's 2012 financial
guidance.

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 &
Communications
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);
DuoBody^(r)and UniBody^(r)are all trademarks of Genmab A/S. Arzerra^(r) is a
trademark of GlaxoSmithKline.

Company Announcement no. 38
CVR no. 2102 3884

Genmab A/S
Bredgade 34E
1260 Copenhagen K
Denmark
 
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