COPENHAGEN, Denmark; April 11, 2000 - Genmab A/S announced today that it has raised DKK 35,032,500 (approximately $4.8 million) and added a new anticancer product to its portfolio of human antibodies in development. With the addition of this new pre-clinical program, Genmab has four products in development, including one in human clinical trials. In addition, the Company has acquired unlimited access to the HuMAb-Mouse™ technology through an expanded license from Medarex, Inc. This license gives Genmab the ability to create an unlimited number of new fully human antibody products.

"This broad expansion of Genmab's license means the Company has unlimited potential to expand its portfolio of products," said Lisa N. Drakeman, Ph.D., Chief Executive Officer of Genmab. "The additional financing also strengthens the Company and helps us expand our product development efforts."

Genmab is a biotechnology company developing a portfolio of fully human antibodies using the proprietary HuMAb-Mouse™ technology. The Company has one product in Phase I/II clinical trials to treat rheumatoid arthritis, and three products in pre-clinical development, one for inflammation and two for cancer. Human antibodies are expected to provide a treatment advantage over other antibody-based products, especially since antibodies containing mouse proteins are likely to be rejected by the body when used over time and can lead to allergic-type reactions. In addition to these advantages, the HuMAb antibodies often have very high affinities, one hundred to one thousand times higher than those made in wild type mice. High affinities should result in better binding to the disease target and increased effectiveness for the products. Furthermore, fully human antibodies are likely to have longer half-lives than previous types of antibodies, which could contribute significantly to their therapeutic effectiveness.

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.