Genmab — Regulatory Filings 2011

Apr 19, 2011

News Details

Ad-hoc | 19 April 2011 09:01

Genmab and Seattle Genetics Expand Antibody-Drug Conjugate Collaboration

Genmab A/S

19.04.2011 09:01

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-- Collaboration expanded with new cancer target
-- Seattle Genetics has co-development option after Phase I
-- Genmab introduces HuMax-CD74 ADC to pre-clinical pipeline

Copenhagen, Denmark and Bothell, WA; April 19, 2011 - Genmab A/S (OMX: GEN) and
Seattle Genetics, Inc. (Nasdaq: SGEN) announced today that the companies have
entered into a second antibody-drug conjugate (ADC) research collaboration
agreement. Under the new agreement, Genmab has rights to utilize Seattle
Genetics' ADC technology with HuMax-CD74, an antibody in pre-clinical
development to target CD74, which is expressed on a wide range of hematological
malignancies and solid tumors. Seattle Genetics received an undisclosed upfront
payment and has the right to exercise a co-development and co-commercialization
option for any resulting ADC products at the end of Phase I clinical
development.

'We are very pleased to expand our collaboration with Seattle Genetics, who
have been fantastic partners, and at the same time to add a HuMax-CD74 ADC to
Genmab's pre-clinical product pipeline,' said Jan van de Winkel, Ph.D., Chief
Executive Officer of Genmab.

Genmab is responsible for research, manufacturing, pre-clinical development and
Phase I clinical evaluation of ADCs under this new 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, a
payment would be due to Genmab and 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.

'The expanded collaboration with Genmab provides us with another opportunity to
augment our future ADC product pipeline based on data from a phase I clinical
trial,' said Eric L. Dobmeier, Chief Business Officer of Seattle Genetics. 'We
now have co-development options for four of our collaborators' ADC programs,
reflecting our ability to maximize the potential of our technology through
strategic collaborations with organizations that have complementary
capabilities.'

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 the 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. In February 2011, the company
submitted a Biologics License Application to the U.S. Food and Drug
Administration for its lead product candidate, brentuximab vedotin, for the
treatment of relapsed or refractory Hodgkin lymphoma and relapsed or refractory
systemic anaplastic large cell lymphoma. 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 Abbott, Bayer, Celldex Therapeutics, Daiichi Sankyo,
Genentech, GlaxoSmithKline, Millennium, Pfizer and Progenics, as well as ADC
co-development agreements with Agensys, an affiliate of Astellas, and Genmab.
More information can be found at www.seattlegenetics.com.

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

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?;
HuMax-IL8?; HuMax-TAC?; HuMax-CD38?; HuMax-TF?; HuMax-Her2?; HuMax-Wnt?;
HuMax-cMet?, HuMax-CD74?, DuoBody? 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 or our collaborators' 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
annual report on Form 10-K for the year ended December 31, 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.

Stock Exchange Release no. 16
CVR no. 2102 3884

Genmab A/S
Bredgade 34
1260 Copenhagen K
Denmark
News Source: NASDAQ OMX

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Language: English
Company: Genmab A/S

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