Gemini Genomics and Genmab Announce Collaboration to Develop Human Antibody Therapeutics.

Biotechnology/Health Editors

BIOWIRE2K

CAMBRIDGE, U.K. & COPENHAGEN, Denmark--(BUSINESS WIRE)--Dec. 6, 2000

Gemini Genomics plc (Nasdaq:GMNI) and Genmab A/S (CSE:GEN and Neuer Markt:GE09) announced today that they have entered into a collaboration to develop new antibody therapeutic products. The collaboration will utilize novel disease targets discovered by Gemini along with Genmab's fully human antibody technology to create and develop new products. The companies will focus on several therapeutic areas, including osteoporosis, cardiovascular disease, diabetes and obesity.

This is a multi-target alliance and Gemini has already identified an initial group of disease targets using its unique genomics capabilities. This alliance combines Gemini's comprehensive clinical and genetic resources with its leading edge bioinformatics systems and Genmab's technologies to develop antibody based drugs and diagnostics. Genmab will use its fully human antibody technology in combination with its broad antibody development capabilities, including a diverse array of biologic assays and animal disease models, to generate and test fully human antibodies to these novel disease targets. Gemini and Genmab will collaborate on the research, development and commercialization of the new antibody products. Both companies will equally share revenues generated from outlicensing or sales of these products.

Given the scope of this multi-target alliance, Medarex, Inc., a leading antibody company based in the United States, will also contribute resources to the collaboration and will share certain costs and commercial rights. Medarex originally developed the human antibody technology which Genmab has licensed and also has an agreement in which it may participate with Genmab in multi-target European genomics relationships.

"Gemini's strategy is to leverage its unique clinical data by forming non-exclusive partnerships with some of the leading genomics and drug discovery technology companies. Our gene discovery efforts have yielded a number of exciting results recently," said Paul Kelly, M.D., Chief Executive Officer of Gemini Genomics. "Through our alliance with Genmab we access Genmab's unique technology and can move our discoveries through functional genomic analysis, and into antibody products. This alliance demonstrates Gemini's commitment to accessing a suite of drug and diagnostic discovery and development technologies. This strategy enables us to retain ownership of our discoveries and maximize their value prior to outlicensing."

"We are especially pleased with this collaboration because of Gemini's unique capabilities and recent successes in the gene discovery area. This alliance supports our portfolio approach to product development", said Lisa N. Drakeman, Ph.D., Chief Executive Officer of Genmab. "The Gemini collaboration broadens our pipeline of genomics-based products with exciting new targets and moves us into new disease areas which affect millions of people."

Gemini is a clinical genomics company focused on the discovery and commercialization of novel gene-based targets. Gemini's approach integrates comprehensive clinical data and detailed genetic information from a wide range of human population groups, including twins, disease affected families, isolated (founder) populations and drug trial subjects. By investing in leading edge bioinformatics technologies, Gemini is able to effectively apply these resources to the acceleration of disease gene identification, target discovery, and drug development. With offices in the United States, United Kingdom, and Sweden, Gemini aims to maximize revenue generation arising from the commercialization of its discoveries by retaining control over the gene discovery process and taking advantage of the greater potential value offered by later-stage licensing opportunities. For more information about Gemini Genomics, visit the company's website, www.gemini-genomics.com.

Genmab A/S is a biotechnology company that creates and develops fully human antibodies for the treatment of life-threatening and debilitating diseases. Genmab has four products in development to treat cancer, rheumatoid arthritis and other inflammatory conditions, and intends to assemble a broad portfolio of new therapeutic products arising from research into the human genome. At present, Genmab's commercial opportunities are based upon research conducted at leading international companies, such as Immunex Corporation, Oxford GlycoSciences plc, Eos Biotechnology Inc. and Medarex, as well as in its own laboratories. A broad alliance provides Genmab with access to Medarex's array of proprietary technologies, including the HuMab-Mouse(R), for the rapid creation and development of fully human antibodies to virtually any disease target. For more information about Genmab, visit www.genmab.com.

Except for the historical information presented, certain matters discussed in this press release are forward looking statements that are subject to a number of risks and uncertainties that could cause actual results to differ materially from results, performance or achievements expressed or implied by such statements such risks and uncertainties associated with product discovery and development including statements regarding each Company's clinical development programs and the expected timing of clinical trials and regulatory filings. Such statements are based on each Company's management's current expectations, but actual results may differ materially.

HuMAb-Mouse(R) is a registered trademark of Medarex, Inc.