COPENHAGEN, Denmark; November 15, 1999 - Genmab A/S announced that it has received a loan commitment from the Danish Growth Fund for DKK 48.4 Million (approximately US$7 million). Genmab plans to use the proceeds from this loan to support the ongoing development of its first three human antibody products.

Genmab's initial development projects include an antibody to CD-4, which is already in clinical trials to treat rheumatoid arthritis. Genmab is also developing an antibody against Interleukin 15, a cytokine implicated in a number of inflammatory diseases. This project is being carried out in collaboration with Immunex Corporation and is in pre-clinical development. The Company's third project is an anti-cancer antibody, which is also in preclinical development.

"The Growth Fund Loan significantly expands our resources," said Lisa N. Drakeman, Ph.D., Chief Executive Officer of Genmab. "We plan to use the financing to help maintain a rapid development track for our human antibody products."