Genmab — Regulatory Filings 2014

Jul 14, 2014

Company Announcement

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

Copenhagen, Denmark; July 14, 2014 – 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 two inflammatory mediators, proteins which play a key role
in major autoimmune diseases.

“This is another milestone from our productive DuoBody platform collaboration
with Janssen. This reflects rapid and robust progress in the development of
potential products using our state-of-the art bispecific antibody technology,”
said Jan van de Winkel, Ph.D., Chief Executive Officer of Genmab.

Today’s news will not impact Genmab’s 2014 financial guidance.

About the DuoBody Technology Collaboration with Janssen
Under the original 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 with Genmab research funded
by Janssen. Genmab received an upfront payment of $3.5 million (approx. DKK 21
million on the date of the agreement) from Janssen in July 2012 and will
potentially be entitled to milestone and license payments of up to
approximately $175 million (approx. DKK 1,062 million on the date of the
agreement), 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
(approximately DKK 11 million on the date of the amendment) from Janssen. For
each of the ten additional programs that Janssen successfully initiates,
develops and commercializes, Genmab will potentially be entitled to milestone
and license payments of up to approximately $174 million (DKK 956 million on
the date of the amendment) to $219 million (DKK 1.2 billion on the date of the
amendment), depending on the date each program is initiated. In the most
favorable scenario in which all ten additional programs are successfully
initiated, developed and commercialized, Genmab would receive average milestone
and license payments of approximately $191 million (DKK 1.0 billion on the date
of the amendment) for each of the ten programs. 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 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, 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. 35
CVR no. 2102 3884

Genmab A/S
Bredgade 34E
1260 Copenhagen K
Denmark