COPENHAGEN, Denmark; June 13, 2000 - Genmab A/S, a biotechnology company developing fully human antibodies, announced today that it has completed a $40.5 Million financing round from a group of leading international investors. Index Ventures of Geneva led the financing, which included new investors Apax Europe IV and Lombard Odier Immunology Fund, as well as existing investors BankInvest, Lønmodtagernes Dyrtidsfond, and A/S Dansk Erhvervsinvestering. Medarex, Inc., which had previously granted Genmab a broad license to the HuMAb-Mouse® technology in exchange for equity, also invested in this round.

This financing round is believed to be the largest ever for a private European biotechnology company, and brings Genmab's total funding raised since inception 15 months ago to $60 Million.

The Company now has $55 Million available to accelerate the development of human antibody therapeutics. The existing portfolio includes HuMax™-CD4, which is in Phase I/II clinical trials to treat rheumatoid arthritis; HuMax-IL15, and two antibody development programs to cancer targets, all of which are in pre-clinical development and expected to enter the clinic within the next two years. Genmab also plans to expand this portfolio to include additional products.

"This offering strengthens Genmab considerably," said Lisa N. Drakeman, Ph.D., Chief Executive Officer of Genmab. "Making these resources available to our experienced development team will accelerate the development of our human antibodies and allow Genmab to expand its already broad portfolio of therapeutic products."

Neil Rimer, General Partner at Index Ventures, said: "We are very excited by the outstanding potential of Genmab. This company uniquely leverages the strengths of the HuMAb platform technology, into a drug development business model."

"In addition, given the skills and track record of this management team, we are convinced that Genmab is poised to be a leading European biopharmaceutical company for the long run", said Francesco De Rubertis, Ph.D., Associate at Index Ventures.

Index Ventures is a Geneva-based venture capital fund dedicated to making equity investments in private, western European companies targeting global markets in the fields of life sciences and information technologies. The Fund actively seeks and selects companies exhibiting the potential for significant growth derived from products and services with global market appeal and demonstrable, sustainable competitive advantages. The fund's consulting board is composed of world-known experts, including board members and senior executives from first tier international corporations. The life sciences advisory board is chaired by Marc Vasseur, founder and Chief Biology Officer at Genset. For more information about Index Ventures, visit its web site at www.indexventures.com.

Genmab is a biotechnology company developing fully human antibody products to treat life threatening and debilitating diseases, including cancer and chronic, inflammatory conditions, such as rheumatoid arthritis and psoriasis, where human antibodies are expected to provide a treatment advantage. Using the HuMAb-Mouse® technology, Genmab can rapidly create high affinity fully human antibodies instead of mouse antibodies. This transgenic mouse technology avoids the need for humanization or complicated genetic engineering, which can be time consuming and expensive. Until recently, antibody-based products have typically contained mouse or other animal proteins. Such antibodies have the potential to elicit allergic responses or other complications. For more information about Genmab, visit its web site at www.genmab.com.

Except for the historical information contained herein, the matters discussed in this press release are forward-looking statements that involve risks and uncertainties including, but not limited to, uncertainties relating to product development, uncertainties related to the need for regulatory approvals, dependence on proprietary technology, uncertainty of market acceptance of the company's product candidates, uncertainties related to business opportunities, and the availability of future funding. Actual results, events or performance may differ materially.

Certain statements in this press release consist of forward-looking statements that involve risks and uncertainties including, but not limited to, uncertainties regarding the timing and success of drug development programs, or the availability of future financing. Actual results, events or performance may differ materially.