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:6/27/2016)...  Liquid Biotech USA , ... Sponsored Research Agreement with The University of Pennsylvania ... cancer patients.  The funding will be used to ... clinical outcomes in cancer patients undergoing a variety ... employed to support the design of a therapeutic, ...
(Date:6/24/2016)... , June 24, 2016 Epic ... sensitively detects cancers susceptible to PARP inhibitors by ... tumor cells (CTCs). The new test has already ... therapeutics in multiple cancer types. Over ... DNA damage response pathways, including PARP, ATM, ATR, ...
(Date:6/23/2016)... WA (PRWEB) , ... June 23, 2016 , ... ... announces the release of its second eBook, “Clinical Trials Patient Recruitment and Retention ... recruitment and retention in this eBook by providing practical tips, tools, and strategies ...
(Date:6/23/2016)... June 23, 2016 /PRNewswire/ - FACIT has announced ... biotechnology company, Propellon Therapeutics Inc. ("Propellon" ... commercialization of a portfolio of first-in-class WDR5 inhibitors ... such as WDR5 represent an exciting class of ... precision medicine for cancer patients. Substantial advances have ...
Breaking Biology Technology:
(Date:5/20/2016)...  VoiceIt is excited to announce its new ... By working together, VoiceIt and VoicePass will offer ... take slightly different approaches to voice biometrics, collaboration ... usability. Both ... "This marketing and technology partnership allows ...
(Date:5/3/2016)...  Neurotechnology, a provider of high-precision biometric identification ... Identification System (ABIS) , a complete system for ... can process multiple complex biometric transactions with high ... face or iris biometrics. It leverages the core ... MegaMatcher Accelerator , which have been used in ...
(Date:4/26/2016)... , April 27, 2016 ... "Global Multi-modal Biometrics Market 2016-2020"  report to their ... , The analysts forecast the global ... of 15.49% during the period 2016-2020.  ... of sectors such as the healthcare, BFSI, transportation, ...
Breaking Biology News(10 mins):