Genmab — Earnings Release 2015

Oct 5, 2015

Company Announcement

-- Genmab to receive $3 million milestone payment in DuoBody® collaboration
with Janssen

Copenhagen, Denmark; October 5, 2015 – Genmab A/S (OMX: GEN) announced today it
has reached a milestone in its DuoBody technology platform collaboration with
Janssen Biotech, Inc. (“Janssen”), triggering a $3 million milestone payment.
The milestone payment is for pre-clinical progress with a DuoBody product
candidate targeting cancer. Janssen has optioned 11 programs out of a total of
20 programs under the bispecific DuoBody platform collaboration with Genmab.
Including the collaboration with Janssen, Genmab has five commercial
partnerships for its DuoBody technology.

“This milestone is another step in the continued validation of our DuoBody
technology. Our technology collaborations are a key part of Genmab’s strategy
to generate diverse revenue streams and we are very pleased with the continued
rapid progress of the DuoBody programs in our collaboration with Janssen,” said
Jan van de Winkel, Ph.D., Chief Executive Officer of Genmab.

Today’s news will not impact Genmab’s 2015 financial guidance.

About the DuoBody Technology Collaboration with Janssen
Under the original July 2012 agreement, Janssen has the right to use the
DuoBody technology to create panels of bispecific antibodies (up to 10 DuoBody
programs) to multiple disease target combinations. Genmab received an upfront
payment of $3.5 million from Janssen and will potentially be entitled to
milestone and license payments of up to approximately $175 million, as well as
royalties for each commercialized DuoBody product.

Under the terms of a December 2013 amendment, Janssen is entitled to work on up
to ten additional programs. Genmab received an initial payment of $2 million
from Janssen. For each of the ten additional programs that Janssen
successfully initiates, develops and commercializes, Genmab will potentially be
entitled to receive average milestone and license payments of approximately
$191 million. In addition, Genmab will be entitled to royalties on sales of any
commercialized products.

About the DuoBody Platform
The DuoBody platform is an innovative platform for the discovery and
development of bispecific antibodies that may improve antibody therapy of
cancer, autoimmune, infectious and central nervous system disease. Bispecific
antibodies bind to two different epitopes either on the same, or on different
targets (also known as dual-targeting) which may improve the antibodies'
specificity and efficacy in inactivating the disease targets. DuoBody molecules
are unique in combining the benefits of bispecificity with the strengths of
conventional antibodies which allows DuoBody molecules to be administered and
dosed as other antibody therapeutics. Genmab's DuoBody platform generates
bispecific antibodies via a fast and broadly applicable process which is easily
performed at standard bench, as well as commercial, manufacturing scale.

About Genmab
Genmab is a publicly traded, international biotechnology company specializing
in the creation and development of differentiated antibody therapeutics for the
treatment of cancer. Founded in 1999, the company currently has one marketed
antibody, Arzerra® (ofatumumab) for the treatment of certain chronic
lymphocytic leukemia indications and daratumumab in clinical development for
multiple myeloma and non-Hodgkin’s lymphoma, in addition to other clinical
programs, and an innovative pre-clinical pipeline. Genmab's technology base
consists of validated and proprietary next generation antibody technologies -
the DuoBody® platform for generation of bispecific antibodies, and the
HexaBody® platform which creates effector function enhanced antibodies.
Genmab's deep antibody expertise is expected to provide a stream of future
product candidates. Partnering of selected 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 A/S and its subsidiaries own the following trademarks: Genmab®; the
Y-shaped Genmab logo®; Genmab in combination with the Y-shaped Genmab logo™;
the DuoBody logo®; the HexaBody logo™; HuMax®; HuMax-CD20®; DuoBody®; HexaBody®
and UniBody®. Arzerra® is a trademark of Novartis AG or its affiliates.

Company Announcement no. 46
CVR no. 2102 3884

Genmab A/S
Bredgade 34E
1260 Copenhagen K
Denmark