COPENHAGEN, Denmark and REDWOOD CITY, California, March 14 Genmab A/S (OMX: GEN) and PDL BioPharma, Inc.(Nasdaq: PDLI) today announced the closing of the previously announcedtransaction under which Genmab has acquired PDL's antibody manufacturingfacility located in Brooklyn Park, Minnesota, USA for USD 240 million incash. The transaction was first announced on February 21, 2008.
About Genmab A/S
Genmab is a leading international biotechnology company focused ondeveloping fully human antibody therapeutics for unmet medical needs. Usingunique, cutting-edge antibody technology, Genmab's world class discovery anddevelopment teams have created and developed an extensive pipeline ofproducts for potential treatment of a variety of diseases including cancerand autoimmune disorders. As Genmab advances towards a commercial future, weremain committed to our primary goal of improving the lives of patients whoare in urgent need of new treatment options. For more information on Genmab'sproducts and technology, visit www.genmab.com.
PDL BioPharma, Inc. is a biopharmaceutical company focused on thediscovery and development of novel antibodies in oncology and selectimmunologic diseases. For more information, please visit http://www.pdl.com.
This press release contains forward looking statements. The words"believe", "expect", "anticipate", "intend" and "plan" and similarexpressions identify forward looking statements. Actual results orperformance may differ materially from any future results or performanceexpressed or implied by such statements. The important factors that couldcause our actual results or performance to differ materially include, amongothers, risks associated with product discovery and development,uncertainties related to the outcome and conduct of clinical trials includingunforeseen safety issues, uncertainties related to product manufacturing, thelack of market acceptance of our products, our inability to manage growth,the competitive environment in relation to our business area and markets, ourinability to attract and retain suitably qualified personnel, theunenforceability or lack of protection of our patents and proprietary rights,our relationships with affiliated entities, changes and developments intechnology which may render our products obsolete, and other factors. Genmabis not under an obligation to up-date statements regarding the futurefollowing the publication of this release; nor to confirm such statements inrelation to actual results, unless this is required by law.
Genmab(R); the Y-shaped Genmab logo(R); HuMax(R); HuMax-CD4(R);HuMax-CD20(R); HuMax-EGFr(TM); HuMax-IL8(TM); HuMax-TAC(TM); HuMax-HepC(TM);HuMax-CD38(TM); HuMax-CD32b(TM) and UniBody(R) are all trademarks of GenmabA/S.
NOTE: PDL BioPharma and the PDL BioPharma logo are considered trademarksof PDL BioPharma, Inc.Contact: Helle Husted, Sr. Director, Investor Relations, T: +45-33-44-77-30, M: +45-25-27-47-13, E: [email protected]
Contact for PDL: Kathleen Rinehart (Media) +1-650-454-2543 [email protected]
Jean Suzuki (Investors) +1-650-454-2648 [email protected]
Stock Exchange Release no. 09/2008
SOURCE Genmab A/S