Summary: Genmab will receive a milestone payment of approximately DKK 232.7
million from GSK for achievement of positive results in the Phase III CLL
study.
Copenhagen, Denmark; August 21, 2008 - Genmab A/S (OMX: GEN) announced today it
has reached the fifth milestone for ofatumumab (HuMax-CD20(R)) under the terms
of its collaboration with GlaxoSmithKline (GSK). A milestone payment of
approximately DKK 232.7 million (approximately USD 48.5 million) was triggered
by the achievement of positive results in the Phase III study of ofatumumab in
refractory chronic lymphocytic leukemia (CLL). Genmab has received an
approximate total of DKK 552 million (approximately USD 110 million) in
milestone payments under the collaboration so far.
“While achievement of this milestone represents an important potential turning
point for Genmab,” said Lisa N. Drakeman, Ph.D., Chief Executive Officer of
Genmab, “it is even more important for CLL patients who are waiting for new
treatments to combat their difficult to treat disease.”
Ofatumumab is an investigational new generation fully human monoclonal antibody
that targets a distinct, membrane proximal, small loop epitope (specific
antibody binding site) of the CD20 molecule on B cells. Ofatumumab is being
developed to treat CLL, follicular non-Hodgkin's lymphoma, diffuse large B-cell
lymphoma, rheumatoid arthritis and relapsing remitting Multiple Sclerosis under
a co-development and commercialization agreement between Genmab and
GlaxoSmithKline. It is not yet approved in any country.
About Genmab A/S
Genmab is a leading international biotechnology company focused on developing
fully human antibody therapeutics for unmet medical needs. Using cutting-edge
antibody technology, Genmab's world class discovery, development and
manufacturing 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.
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. For a further discussion of these risks, please refer to the section
“Risk Management” in Genmab's Annual Report, which is available on
www.genmab.com. Genmab does not undertake any obligation to update or revise
forward looking statements in this press release 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-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.
Contact: Helle Husted, Sr. Director, Investor Relations, T: +45 33 44 77 30, M:
+45 25 27 47 13, E: hth@genmab.com
Stock Exchange Release no. 35/2008
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