Copenhagen, Denmark; December 17, 2004 – Genmab A/S (CSE: GEN) announced today Roche selected two more Genmab antibodies, developed under the collaboration between Roche and Genmab which began in May 2001, as candidates for clinical development. The antibodies are for two different disease areas.

Under the agreement with Roche, Genmab utilizes its broad antibody expertise and development capabilities to create human antibodies to a broad range of disease targets identified by Roche.  Roche has a proven successful track record in developing biologicals as innovative new products.  Genmab receives milestone and royalty payments based on successful products.  In certain circumstances, Genmab may obtain rights to develop products based on disease targets identified by Roche.  If all goals are reached, the value of the collaboration to Genmab could be USD 100 million, plus royalties.

“This brings the total number of Genmab antibodies chosen as clinical candidates by Roche to four and we continue to be pleased with the progress of the collaboration,” said Lisa N. Drakeman, Ph.D., Chief Executive Officer of Genmab.

Today’s announcement does not alter Genmab’s previously announced financial guidance for 2004.