Genmab — M&A Activity 2015

Aug 14, 2015

Company Announcement

-- Two commercial DuoBody®

technology licenses granted to Novo Nordisk
-- Genmab receives USD 2 million upfront payment

Copenhagen, Denmark; August 14, 2015 – Genmab A/S (OMX: GEN) announced today it
has entered an agreement to grant Novo Nordisk commercial licenses to use the
DuoBody technology platform to create and develop bispecific antibody
candidates for two therapeutic programs. The bispecific antibodies will target
a disease area outside of cancer therapeutics. Under the terms of the
agreement, Genmab will receive an upfront payment of USD 2 million from Novo
Nordisk.

After an initial period of exclusivity for the two target combinations, Novo
Nordisk has an option to maintain exclusivity or take the licenses forward on a
non-exclusive basis. Genmab is entitled to potential development, regulatory
and sales milestones of up to approximately USD 250 million for each exclusive
license, or approximately USD 200 million for each non-exclusive license. In
addition, Genmab will be entitled to single-digit royalties on sales of any
commercialized products.

“Our proprietary DuoBody technology can be used to create bispecific antibodies
that target a wide variety of disease areas. Today’s agreement with Novo
Nordisk is an example of how we can leverage access to our unique state-of-the
art antibody expertise and collaborations to generate diverse revenue streams
in areas beyond cancer,” said Jan van de Winkel, Ph.D., Chief Executive Officer
of Genmab.”

This agreement is not expected to have a material impact on Genmab’s 2015
financial guidance.

About the DuoBody Platform
The DuoBody platform is Genmab’s proprietary technology platform for the
discovery and development of bispecific antibodies. Bispecific antibodies bind
to two different epitopes (or “docking” sites) either on the same, or on
different targets (also known as dual-targeting). Dual-targeting may improve
binding specificity and efficacy in inactivating disease targets. Bispecific
antibodies generated with the DuoBody platform may improve antibody therapy of
cancer, autoimmune, and infectious and central nervous system disease. 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 the way other antibody therapeutics are. 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 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 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 Pharma AG.

Company Announcement no. 34
CVR no. 2102 3884

Genmab A/S
Bredgade 34E
1260 Copenhagen K
Denmark