Genmab — M&A Activity 2014

Nov 3, 2014

Company Announcement

-- Ofatumumab collaboration contract to be transferred from GSK to Novartis,
conditional on the satisfaction of certain conditions
-- Transfer of the contract is dependent on closing of the transaction between
GSK and Novartis
-- Genmab will have no future funding commitments for ofatumumab beyond 2014
-- GSK to continue the development of subcutaneous formulation of ofatumumab
in autoimmune indications

Copenhagen, Denmark; November 3, 2014 – Genmab A/S (OMX: GEN) announced today
it has entered into an agreement with GlaxoSmithKline (GSK) and Novartis Pharma
AG (Novartis) to transfer the ofatumumab collaboration with GSK to Novartis.
The transfer of the collaboration follows an April 2014 announcement in which
Novartis, as part of a definitive agreement reached with GSK, agreed to acquire
GSK's oncology products including ofatumumab (the GSK/Novartis Transaction).
The transfer of the collaboration will only become effective upon closing of
the GSK/Novartis Transaction, which is currently expected in the first half of
2015.

Upon transfer, Novartis would develop and commercialize ofatumumab in oncology
indications and GSK would continue to develop and commercialize ofatumumab for
autoimmune indications. The parties have also agreed that Genmab would not be
required to pay existing funding liabilities (approximately GBP 19 million (DKK
180 million)) or to fund research and development costs for ofatumumab beyond
December 31, 2014. In aggregate, this could reduce Genmab’s funding commitment
by up to GBP 60 million (DKK 570 million).

“The collaborations with Novartis and GSK for this innovative therapeutic
antibody will help ofatumumab reach its fullest potential, while improving cash
flows,” said Jan van de Winkel, Ph.D., Chief Executive Officer of Genmab.

Additionally, upon completion of the transfer of the collaboration, Genmab will
be able to develop follow-on CD20 products including formats incorporating its
proprietary DuoBody® and HexaBody™ technologies.

The transfer of the collaboration will not impact Genmab's 2014 financial
guidance.

About ofatumumab
Ofatumumab is a monoclonal antibody that is designed to target the CD20
molecule found on the surface of chronic lymphocytic leukemia (CLL) cells and
normal B lymphocytes.

Solely for the convenience of the reader, this press release contains a
conversion of such GBP amounts into Danish Kroner (DKK) using the Danish
Central Bank closing rate on October 31, 2014 which was GBP 1.00 = DKK 9.4924.

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 currently has one
marketed antibody, Arzerra® (ofatumumab) for the treatment of certain chronic
lymphocytic leukemia indications and daratumumab in late stage clinical
development for multiple myeloma. Additionally Genmab has a clinical pipeline
with both late and early stage 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 registered trademark of the GSK group of companies.

Company Announcement no. 49
CVR no. 2102 3884

Genmab A/S
Bredgade 34E
1260 Copenhagen K
Denmark