Navigation Links
Genmab and PDL BioPharma Close Sale of Antibody Manufacturing Facility
Date:3/13/2008

Summary: Genmab's Acquisition of PDL BioPharma's Antibody Manufacturing

Facility has Closed.

COPENHAGEN, Denmark and REDWOOD CITY, California, March 14 /PRNewswire-FirstCall/ -- Genmab A/S (OMX: GEN) and PDL BioPharma, Inc. (Nasdaq: PDLI) today announced the closing of the previously announced transaction under which Genmab has acquired PDL's antibody manufacturing facility located in Brooklyn Park, Minnesota, USA for USD 240 million in cash. The transaction was first announced on February 21, 2008.

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 http://www.genmab.com.

About PDL

PDL BioPharma, Inc. is a biopharmaceutical company focused on the discovery and development of novel antibodies in oncology and select immunologic diseases. For more information, please visit http://www.pdl.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.

NOTE: PDL BioPharma and the PDL BioPharma logo are considered trademarks of PDL BioPharma, Inc.

Contact:

Helle Husted,

Sr. Director, Investor Relations,

T: +45-33-44-77-30,

M: +45-25-27-47-13,

E: hth@genmab.com

Contact for PDL:

Kathleen Rinehart (Media)

+1-650-454-2543

kathleen.rinehart@pdl.com

Jean Suzuki (Investors)

+1-650-454-2648

jean.suzuki@pdl.com

Stock Exchange Release no. 09/2008


'/>"/>
SOURCE Genmab A/S
Copyright©2008 PR Newswire.
All rights reserved

Related biology technology :

1. Genmab and Pepscan to Identify Human Antibodies Against Intractable Targets
2. Genmab and PDL BioPharma Sign Purchase Agreement for Antibody Manufacturing Facility
3. Medarex Announces Completion of Sale of Shares in Genmab A/S
4. Genmabs Financial Calendar for 2008
5. Genmab Reaches Milestones in Ofatumumab Collaboration
6. Genmab Announces HuMax-CD32b Pre-Clinical Program
7. Roche Files IND for Second Genmab Antibody
8. Genmab A/S - R1507 Antibody to Enter Phase II Study to Treat Sarcoma
9. Genmab Announces Details of Planned Ofatumumab Phase II Study in Multiple Sclerosis
10. Fourth Genmab Antibody Developed Under Roche Collaboration to Enter Clinic
11. Genmab Announces Update on Recruitment of Patients in ofatumumab CLL Pivotal Study
Post Your Comments:
*Name:
*Comment:
*Email:
(Date:6/23/2016)... SILVER SPRING, Md. , June 23, 2016 ... evidence collected from the crime scene to track the criminal ... sick, and the U.S. Food and Drug Administration (FDA) uses ... Sound far-fetched? It,s not. ... whole genome sequencing to support investigations of foodborne illnesses. Put ...
(Date:6/23/2016)... --  EpiBiome , a precision microbiome engineering company, today ... from Silicon Valley Bank (SVB). The financing will allow ... drug development efforts, as well as purchase additional lab ... been an incredible strategic partner to us – one ... provide," said Dr. Aeron Tynes Hammack , EpiBiome,s ...
(Date:6/23/2016)... 23, 2016  Blueprint Bio, a company dedicated to ... medical community, has closed its Series A funding round, ... "We have received a commitment from Forentis ... need to meet our current goals," stated Matthew ... runway to complete validation on the current projects in ...
(Date:6/23/2016)... ... 2016 , ... Velocity Products, a division of Morris Group, ... exclusively for Okuma CNC machining centers at The International Manufacturing Technology Show, IMTS, ... companies with expertise in toolholding, cutting tools, machining dynamics and distribution, Velocity SMART ...
Breaking Biology Technology:
(Date:6/2/2016)... NEW YORK , June 2, 2016   The ... (Weather), is announcing Watson Ads, an industry-first capability in which ... advertising, by being able to ask questions via voice or ... Marketers have long ... with the consumer, that can be personal, relevant and valuable; ...
(Date:5/20/2016)... -- VoiceIt is excited to announce its new marketing ... working together, VoiceIt and VoicePass will offer an ... slightly different approaches to voice biometrics, collaboration between ... Both companies ... "This marketing and technology partnership allows VoiceIt ...
(Date:5/3/2016)... , May 3, 2016  Neurotechnology, a provider ... MegaMatcher Automated Biometric Identification System (ABIS) , ... multi-biometric projects. MegaMatcher ABIS can process multiple complex ... any combination of fingerprint, face or iris biometrics. ... SDK and MegaMatcher Accelerator , which ...
Breaking Biology News(10 mins):