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Genmab A/S - Company Announcement: Genmab Reports Results of Portfolio
Date:10/8/2008

Review Zanolimumab Program to be Discontinued and Headcount to be Reduced Summary: Genmab Announces the Results of its Portfolio Review; Zanolimumab

Program to be Discontinued and the Company Will Reduce the Number of

Employees

COPENHAGEN, October 8 /PRNewswire-FirstCall/ -- Genmab A/S (OMX: GEN) announced today that it is discontinuing development of zanolimumab (HuMax-CD4(R)). In addition, as a result of a portfolio review and assessment of the organization, Genmab is reducing its headcount by 101 positions.

As the company approaches potential commercialization, the need to establish a sustainable level of R&D investment is a key priority. Genmab has conducted a review of its portfolio and organization to establish priorities that will build the greatest potential value. The company will sharpen its focus on cancer therapeutics and a less broad, but higher potential portfolio.

Zanolimumab is currently in a Phase III pivotal study to treat cutaneous T-cell lymphoma (CTCL). As Genmab has previously indicated, patient recruitment into the zanolimumab pivotal study has been slow which the company believes is due to the relatively small market potential in CTCL, the introduction of a new CTCL therapeutic to the market and numerous competing clinical trials. In the light of these issues, Genmab considers that the significant investment required to take the product through to approval is no longer a good use of its resources.

Genmab will also aim to out-license three of its early stage development programs that fall outside the focus area: HuMax-HepC(TM), HuMax-IL8(TM) and HuMax-TAC(TM).

In addition, Genmab will wind down the zalutumumab (HuMax-EGFr(TM)) early stage studies in colorectal and lung cancer. This decision is based on new information about the role of K-RAS mutations and appropriate therapeutic regimens. Genmab will continue its development of two Phase III and two earlier stage
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SOURCE Genmab A/S
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