Genmab will wind down the zalutumumab program
No impact on 2011 financial guidance
Zalutumumab will be made available for future partnering
COPENHAGEN, Denmark, June 24, 2011 (GLOBE NEWSWIRE) — Genmab A/S (Copenhagen:GEN) announced today it will wind down the zalutumumab clinical program.
After an extensive search during the first half of the year, the company has not found a satisfactory partnership to take zalutumumab forward in the current climate. As part of the company’s disciplined approach and commitment to controlling costs, Genmab will wind down the zalutumumab program. Genmab will continue to pursue partnership leads, but will not invest further in the development of zalutumumab. Cost savings from the wind down will mostly be realized from 2012 and therefore the 2011 financial guidance will not be impacted.
“We have always been focused to ending investment in zalutumumab so that we can concentrate our resources to progress other higher value programs in our pipeline. The product has shown good�results in our clinical studies without any serious adverse effects and I believe it has�a therapeutic potential; however, we were committed to taking a decision on the future of the product by the end of June and therefore we will now shelve zalutumumab but make it available for partnership should the opportunity arise at some point in the future.” said Dr. Jan van de Winkel, CEO of Genmab.
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’s first marketed antibody, Arzerra(r) (ofatumumab), was approved to treat refractory chronic lymphocytic leukemia after less than eight years in development.�Genmab’s validated and next generation antibody technologies are expected to provide a steady stream of future product candidates.�Partnering of 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.
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(tm); HuMax-IL8(tm); HuMax-TAC(tm); HuMax-CD38(tm); HuMax-TF(tm); HuMax-Her2(tm); HuMax-cMet(tm), HuMax-CD74(tm), DuoBody(tm)�and UniBody(r)are all trademarks of Genmab A/S. Arzerra(r) is a trademark of GlaxoSmithKline.
Stock Exchange Release no. 22
CVR no. 2102 3884
Genmab A/S
Bredgade 34
1260 Copenhagen K
Denmark
CONTACT: Rachel Curtis Gravesen, Senior Vice President,
Investor Relations & Communication
T: +45 33 44 77 20
M: +45 25 12 62 60
E: r.gravesen@genmab.com
http://bit.ly/j1UXoo
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