Summary: Genmab has achieved two development milestones in its ofatumumab
collaboration with GlaxoSmithKline.
Copenhagen, Denmark; January 21, 2008 - Genmab A/S (OMX: GEN) announced today it
has reached the second and third development milestones for ofatumumab
(HuMax-CD20(R)) under the terms of its collaboration with GlaxoSmithKline (GSK).
The second milestone payment of the collaboration of DKK 87.2 million was
triggered by treatment of the first patient in the Phase II study of ofatumumab
in Diffuse Large B-Cell Lymphoma (DLBCL), which occurred in 2007. The third
milestone payment of DKK 87.2 million was triggered by the first patient
receiving treatment in the Phase III rheumatoid arthritis (RA) program, which
occurred in 2008.
Genmab achieved the first development milestone payment of DKK 116.3 million
under the GSK collaboration in June, triggered by positive efficacy results in
the Phase II RA study.
Ofatumumab is an investigational, fully human, next generation monoclonal
antibody that targets a distinct small loop epitope on the CD20 receptor on the
surface of B-cells. This epitope is different to the other anti-CD20 antibodies
currently available or in development. Ofatumumab is being developed under a
co-development and commercialization agreement between Genmab and
GlaxoSmithKline.
“Genmab and GSK have worked hard to expand development with ofatumumab since our
collaboration began in December 2006,” said Lisa N. Drakeman, Ph.D., Chief
Executive Officer of Genmab. “The successful initiation of the ofatumumab RA
and DLBCL programs are a testament to the cooperative spirit of our companies.”
About Genmab A/S
Genmab is a leading international biotechnology company focused on developing
fully human antibody therapeutics for unmet medical needs. Using unique,
cutting-edge antibody technology, Genmab's world class discovery and development
teams have created and developed an extensive pipeline of products for potential
treatment of a variety of diseases including cancer and autoimmune disorders.
As Genmab advances towards a commercial future, we remain committed to our
primary goal of improving 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.
This press 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. Genmab is
not under an obligation to up-date statements regarding the future following the
publication of this release; nor to confirm such statements in relation to
actual results, unless this is required by law.
Genmab(R); the Y-shaped Genmab logo(R); HuMax(R); HuMax-CD4(R); HuMax-CD20(R);
HuMax-EGFr(TM); HuMax-IL8(TM); HuMax-TAC(TM); HuMax-HepC(TM); HuMax-CD38(TM);
HuMax-CD32b(TM) and UniBody(R) are all trademarks of Genmab A/S.
Contact: Helle Husted, Sr. Director, Investor Relations, T: +45 33 44 77 30, M:
+45 25 27 47 13, E: hth@genmab.com
Stock Exchange Release no. 02/2008
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