• USD 2 million upfront payment to Genmab

Copenhagen, Denmark; June 4, 2012 — Genmab A/S (OMX: GEN) announced today an agreement with Novartis to use its DuoBody technology platform to create and develop bispecific antibodies. Genmab will create panels of bispecific antibodies to two disease target combinations identified by Novartis. All research work on the programs is fully funded by Novartis.

"We are very pleased to enter Genmab's second DuoBody technology collaboration, this time with Novartis, a strong pharmaceutical collaborator. This brings us a step further in realizing the value from our innovative bispecific antibody platform," said Jan van de Winkel, Ph.D., Chief Executive Officer of Genmab.

Under the terms of the agreement, Genmab receives an upfront payment of USD 2 million (approximately DKK 12 million). If all milestones in the agreement are achieved, the total potential value of the agreement to Genmab would be approximately USD 175 million (approximately DKK 1,055 million), plus research funding and royalties.

This agreement is not expected to have a material impact on Genmab's 2012 financial guidance.

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.