Copenhagen, Denmark and King of Prussia, PA, USA;
November 20, 2006 - Genmab A/S (CSE: GEN) and Cytokine
PharmaSciences, Inc. announced today that Genmab has licensed rights to the
MIF receptor target from Cytokine PharmaSciences. Genmab intends to develop
therapeutic human antibodies to the licensed target. Details of the
agreement were not disclosed.
"We are enthusiastic about this target, especially as there has been
positive proof of concept data in experimental animal models," said
Lisa N. Drakeman, Ph.D., Chief Executive Officer of Genmab.
Denny Willson, president and CEO of Cytokine PharmaSciences, stated:
"Genmab is a world-class company in the area of developing human
antibody therapeutics. We are pleased to entrust our target to an
organization of their caliber."
About Genmab A/S
Genmab A/S is a biotechnology company that creates and develops human
antibodies for the treatment of life-threatening and debilitating diseases.
Genmab has numerous products in development to treat cancer, infectious
disease, rheumatoid arthritis and other inflammatory conditions, and
intends to continue assembling a broad portfolio of new therapeutic
products. At present, Genmab has multiple partnerships to gain access to
disease targets and develop novel human antibodies including agreements
with Roche and Amgen. A broad alliance provides Genmab with access to
Medarex, Inc.'s array of proprietary technologies, including the
UltiMAb® platform for the rapid creation and development of human
antibodies to virtually any disease target. In addition, Genmab has
developed UniBody™, a new proprietary technology that creates a stable,
smaller antibody format. Genmab has operations in Copenhagen, Denmark,
Utrecht, the Netherlands, Princeton, New Jersey, US and Hertfordshire in
the United Kingdom. For more information about Genmab, visit www.genmab.com.
About Cytokine PharmaSciences, Inc.
Cytokine PharmaSciences is a biopharmaceutical company located in King of
Prussia (near Philadelphia), Pennsylvania. The company licenses
technologies from academia and other sources, develops products from those
technologies and outlicenses the products to third parties for marketing.
For more information, go to www.cytokinepharmasciences.com.
This press release contains forward looking statements. The words
"believe", "expect", "anticipate",
"intend" and "plan" and similar expressions identify
forward looking statements. Actual results or performance may differ
materially from any future results or performance expressed or implied by
such statements. The important factors that could cause our actual results
or performance to differ materially include, among others, risks associated
with product discovery and development, uncertainties related to the
outcome and conduct of clinical trials including unforeseen safety issues,
uncertainties related to product manufacturing, the lack of market
acceptance of our products, our inability to manage growth, the competitive
environment in relation to our business area and markets, our inability to
attract and retain suitably qualified personnel, the unenforceability or
lack of protection of our patents and proprietary rights, our relationships
with affiliated entities, changes and developments in technology which may
render our products obsolete, and other factors. Genmab is not under an
obligation to up-date statements regarding the future following the
publication of this release; nor to confirm such statements in relation to
actual results, unless this is required by
law.
Genmab®; the Y-shaped Genmab logo®; HuMax®; HuMax-CD4®; HuMax-EGFr™;
HuMax-Inflam™; HuMax-CD20™; HuMax-TAC™; HuMax-HepC™, HuMax-CD38™; and
UniBody™ are all trademarks of Genmab A/S.
UltiMAb® is a trademark of Medarex, Inc.