Copenhagen, Denmark; July 31, 2002 - Genmab A/S (CSE: GEN and Neuer Markt: GE9D) and Semaia Pharmaceuticals, a privately held Dutch company, announced today a collaboration to develop new antibody therapeutic products.

Under the terms of the partnership Genmab will utilize its fully human antibody technology and pre-clinical expertise to create and develop new products to up to four novel cancer disease target molecules discovered and validated by Semaia Pharmaceuticals.

The partnership unites Genmab's broad antibody development capabilities and extensive array of pre-clinical tools to generate and characterise fully human antibodies with Semaia Pharmaceuticals' skills in finding and validating novel cancer targets. Genmab and Semaia will collaborate on the research, development and any eventual commercialisation of the new antibody products and will share equally the development costs and revenues generated from out-licensing or sales of the products.

"Semaia Pharmaceuticals represents Genmab's sixth partnership signed this year, a mark that Genmab is building a solid foundation for the continuing development of its broad pipeline of products," said Lisa N. Drakeman Ph.D., Genmab's Chief Executive Officer. "We are able to provide high quality development and clinical expertise and are looking forward to working on the interesting targets discovered by the team at Semaia Pharmaceuticals."

"Genmab is Semaia's first co-operation partner," said Rian de Jonge Ph.D., Chief Executive Officer of Semaia. "As a young and innovative biotech company, we are extremely proud of the fact that we will be co-operating with Genmab in the future. By working on antibodies, we create added value - which means we increase the success rate in the development of marketable drugs".