Genmab and Seattle Genetics Enter Into Antibody-Drug Conjugate Research Collaboration

Summary:  Genmab and Seattle Genetics have entered into an antibody-drug        
conjugate research collaboration agreement.                                     

Copenhagen, Denmark and Bothell, WA; September 14, 2010 - Genmab A/S (OMX: GEN) 
and Seattle Genetics, Inc. (Nasdaq: SGEN) announced today that the companies    
have entered into an antibody-drug conjugate (ADC) research collaboration       
agreement. Under the agreement, Genmab has rights to utilize Seattle Genetics'  
ADC technology with its HuMax-TF antibody targeting the Tissue Factor antigen,  
which is expressed on numerous types of solid tumors. Seattle Genetics received 
an undisclosed upfront payment and has the right to exercise a co-development   
option for any resulting ADC products at the end of Phase I clinical            
development.                                                                    

“ADC technology represents the next promising wave of cancer therapeutics,      
combining the best characteristics of antibodies and chemotherapy into one,”    
said Jan van de Winkel, Ph.D., Chief Executive Officer of Genmab.  “We are      
pleased to enter this collaboration with Seattle Genetics which gives us access 
to this innovative technology for HuMax-TF.”                                    

Genmab is responsible for research, manufacturing, preclinical development and  
Phase I clinical trials of ADCs under this collaboration. Seattle Genetics will 
receive research support payments for any assistance provided to Genmab. If     
Seattle Genetics opts into an ADC product at the end of Phase I, the companies  
would co-develop and share all future costs and profits for the product on a    
50:50 basis. If Seattle Genetics does not opt in to an ADC product, Genmab would
pay Seattle Genetics fees, milestones and mid-single digit royalties on         
worldwide net sales of the product.                                             

“This collaboration leverages the value of our ADC technology to provide us with
a strategic option to supplement our product pipeline based on Phase I clinical 
data,” said Eric L. Dobmeier, Chief Business Officer of Seattle Genetics. “In   
addition to the greater than $130 million we have generated to date from ADC    
technology deals, we now have co-development options for three of our           
collaborators' ADC programs.”                                                   

ADCs are monoclonal antibodies that selectively deliver potent anti-cancer      
agents to tumor cells. With over a decade of experience and knowledge in ADC    
innovation, Seattle Genetics has developed proprietary technology employing     
synthetic, highly potent cell-killing agents called auristatins (such as MMAE   
and MMAF) and stable linker systems that attach auristatin to the antibody.     
Seattle Genetics' novel linker systems are designed to be stable in the         
bloodstream and release the potent cell-killing agent once inside targeted      
cancer cells. This approach is intended to spare non-targeted cells and thus    
reduce many of the toxic effects of traditional chemotherapy while enhancing the
antitumor activity.                                                             

About Genmab A/S                                                                
Genmab is a leading international biotechnology company focused on developing   
fully human antibody therapeutics for the potential treatment of cancer.        
Genmab's world class discovery and development teams are using cutting-edge     
technology to create and develop products to address unmet medical needs.  Our  
primary goal is to improve 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 Seattle Genetics                                                          
Seattle Genetics is a clinical-stage biotechnology company focused on the       
development and commercialization of monoclonal antibody-based therapies for the
treatment of cancer and autoimmune disease. The company's lead product          
candidate, brentuximab vedotin (SGN-35), is in a pivotal trial under a Special  
Protocol Assessment with the U.S. Food and Drug Administration. Brentuximab     
vedotin is being developed in collaboration with Millennium: The Takeda Oncology
Company. In addition, Seattle Genetics has four other clinical-stage programs:  
SGN-75, ASG-5ME, dacetuzumab (SGN-40) and SGN-70. Seattle Genetics has          
collaborations for its ADC technology with a number of leading biotechnology and
pharmaceutical companies, including Bayer, Celldex Therapeutics, Daiichi Sankyo,
Genentech, GlaxoSmithKline, MedImmune, a subsidiary of AstraZeneca, Millennium: 
The Takeda Oncology Company and Progenics, as well as an ADC co-development     
agreement with Agensys, an affiliate of Astellas. More information can be found 
at www.seattlegenetics.com.                                                     

For Genmab:                                                                     
This Stock Exchange 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 Stock Exchange 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-CD20(R); HuMax-EGFr(TM);
HuMax-IL8(TM); HuMax-TAC(TM); HuMax-HepC(TM); HuMax-CD38(TM); HuMax-CD32b(TM);  
HuMax-TF(TM); HuMax-Her2(TM); HuMax-VEGF(TM); HuMax-Wnt; HuMax-cMet(TM) and     
UniBody(R) are all trademarks of Genmab A/S. Arzerra(R) is a trademark of       
GlaxoSmithKline.                                                                

For Seattle Genetics:                                                           
Certain of the statements made in this press release are forward looking. Actual
results or developments may differ materially from those projected or implied in
these forward-looking statements. Specifically, statements regarding the        
therapeutic potential of antibody-drug conjugates are forward looking and actual
results may differ materially from these statements for various reasons. Factors
that may cause such a difference include risks related to adverse clinical      
results as our product candidates move into and advance in clinical trials,     
risks inherent in early stage development and failure by our collaborators to   
perform their contractual obligations or advance products incorporating our     
technology. More information about the risks and uncertainties faced by Seattle 
Genetics is contained in the company's quarterly report on Form 10-Q for the    
quarter ended June 30, 2010 filed with the Securities and Exchange Commission.  
Seattle Genetics disclaims any intention or obligation to update or revise any  
forward-looking statements, whether as a result of new information, future      
events or otherwise.                                                            

Genmab Contact:	Helle Husted, Vice President, Investor Relations               
T: +45 33 44 77 30; M: +45 25 27 47 13; E: h.husted@genmab.com                  

Seattle Genetics Contact:	Peggy Pinkston                                        
T: (425) 527-4160; E: ppinkston@seagen.com                                      
                                                                                
Stock Exchange Release no. 34/2010                                              

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