Summary: Genmab's acquisition of PDL BioPharma's antibody manufacturing
facility has closed.
Copenhagen, Denmark and Redwood City, Calif., USA; March 13, 2008 - Genmab A/S
(OMX: GEN) and PDL BioPharma, Inc. (Nasdaq: PDLI) today announced the closing of
the previously announced transaction under which Genmab has acquired PDL's
antibody manufacturing facility located in Brooklyn Park, Minnesota, USA for USD
240 million in cash. The transaction was first announced on February 21, 2008.
About Genmab A/S
Genmab is a leading international biotechnology company focused on developing
fully human antibody therapeutics for unmet medical needs. Using unique,
cutting-edge antibody technology, Genmab's world class discovery and development
teams have created and developed an extensive pipeline of products for potential
treatment of a variety of diseases including cancer and autoimmune disorders.
As Genmab advances towards a commercial future, we remain committed to our
primary goal of improving the lives of patients who are in urgent need of new
treatment options. For more information on Genmab's products and technology,
visit www.genmab.com.
About PDL
PDL BioPharma, Inc. is a biopharmaceutical company focused on the discovery and
development of novel antibodies in oncology and select immunologic diseases. For
more information, please visit http://www.pdl.com.
This press release 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 product discovery
and development, 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. Genmab is
not under an obligation to up-date statements regarding the future following the
publication of this release; nor to confirm such statements in relation to
actual results, unless this is required by law.
Genmab(R); the Y-shaped Genmab logo(R); HuMax(R); HuMax-CD4(R); HuMax-CD20(R);
HuMax-EGFr(TM); HuMax-IL8(TM); HuMax-TAC(TM); HuMax-HepC(TM); HuMax-CD38(TM);
HuMax-CD32b(TM) and UniBody(R) are all trademarks of Genmab A/S.
NOTE: PDL BioPharma and the PDL BioPharma logo are considered trademarks of PDL
BioPharma, Inc.
Contact: Helle Husted, Sr. Director, Investor Relations, T: +45 33 44 77 30, M:
+45 25 27 47 13, E: hth@genmab.com
Contact for PDL:
Kathleen Rinehart (Media)
+1 650 454-2543
kathleen.rinehart@pdl.com
Jean Suzuki (Investors)
+1 650 454-2648
jean.suzuki@pdl.com
Stock Exchange Release no. 09/2008
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