Copenhagen, Denmark and Princeton, New Jersey; December 10, 2002 – Genmab A/S (CSE:GEN and FSE: GE9D) and Medarex, Inc. (Nasdaq:MEDX) today announced the filing of a clinical trial application (CTA) in Europe for HuMax-Inflam, also known as MDX-018, for use in the treatment of an autoimmune disease. A CTA filing is the equivalent of an investigational new drug (IND) application in the United States and is a request to the regulatory authorities in Europe to seek approval to conduct a clinical study in patients.

About HuMax-Inflam

Genmab and Medarex plan to share all development costs and world-wide rights to HuMax-Inflam, except for Asia, which is held by Medarex.  The disease and the target mechanism for HuMax-Inflam have not yet been made public.

About Medarex, Inc.
Medarex is a biopharmaceutical company focused on the discovery and development of therapeutics to treat life-threatening and debilitating diseases. Medarex’s UltiMAb Human Antibody Development SystemSM is a unique combination of human antibody technologies that Medarex believes enables the rapid creation and development of fully human antibodies to a wide range of potential disease targets for therapeutic antibody products, including products for the treatment of cancer, inflammation, autoimmune and infectious diseases.  Medarex’s   product pipeline is based on a variety of therapeutic antibody products developed through the use of its UltiMAb technology.  Medarex creates and develops fully human antibodies for itself and others, offering a full range of antibody related capabilities, including pre-clinical and clinical development supported by cGMP manufacturing services.  For more information about Medarex, visit its Web site at www.medarex.com.

For Medarex: Except for the historical information presented herein, matters discussed herein may constitute forward-looking statements that are subject to certain risks and uncertainties that could cause actual results to differ materially from any future results, performance or achievements expressed or implied by such statements.  Statements that are not historical facts, including statements preceded by, followed by, or that include the words “potential”; “believes”; “anticipates”; “intends”; “plans”; “expects”; “estimates”; “could”; or similar statements are forward-looking statements. Medarex disclaims, however, any intent or obligation to update these forward-looking statements. Risks and uncertainties include risks associated with product discovery and development as well as risks detailed from time to time in Medarex’s public disclosure filings with the U.S. Securities and Exchange Commission (SEC), including its Annual Report on Form 10-K for the fiscal year ended December 31, 2001 and subsequent Quarterly Reports on Form 10-Q.  There can be no assurance that such development efforts will succeed, that such products will receive required regulatory clearance or that, even if such regulatory clearance were received, such products would ultimately achieve commercial success. Copies of Medarex’s public disclosure filings are available from its investor relations department.