COPENHAGEN, Denmark, June 26 /PRNewswire/ --     Summary: Positive efficacy results with ofatumumab in rheumatoid
arthritis enable Genmab to achieve first development milestone.

Genmab A/S (CSE: GEN) announced today it has reached the first 
development milestone for ofatumumab (HuMax-CD20(R)) under the terms of its 
collaboration with GlaxoSmithKline (GSK). Achievement of this milestone has 
resulted in a payment of DKK 116.3 million (approximately USD 20.8 million), 
triggered by positive efficacy results in the Phase II rheumatoid arthritis 
study, announced June 15, 2007. The payment will not influence Genmab's 
financial guidance for 2007.

Genmab licensed exclusive worldwide rights to co-develop and
commercialize ofatumumab to GSK in December 2006. Genmab received a license
fee of DKK 582 million, and GSK invested DKK 2,033 million in Genmab shares.
In addition, Genmab will be entitled to receive tiered double digit royalties
on global sales of ofatumumab and may also receive further milestone
payments. As part of the agreement, Genmab will have an option to co-promote,
in a targeted oncology setting, ofatumumab, Bexxar(TM), and Arranon(TM) in
the US and ofatumumab and Atriance(TM) in the Nordic region. GSK will also
have an option for a CD20 UniBody(TM).

"Genmab's clinical development team has worked very hard to progress the
various ongoing clinical trial programs with ofatumumab, and these results in
the RA indication are very encouraging," said Lisa N. Drakeman, Ph.D., Chief
Executive Officer of Genmab. "We are also very pleased that these results
have helped us reach our first milestone in our collaboration with GSK so
soon after entering into our agreement."

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. In
addition, Genmab has developed UniBody(TM), a new proprietary technology that
creates a stable, smaller antibody format. Genmab has operations in Europe
and the US. For more information about Genmab, visit www.genmab.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(R); the Y-shaped Genmab logo(R); HuMax(R); HuMax-CD4(R);
HuMax-CD20(R); HuMax-EGFr(TM); HuMax-Inflam(TM); HuMax-TAC(TM);
HuMax-HepC(TM), HuMax-CD38(TM); HuMax-ZP3(TM); and UniBody(TM) are all
trademarks of Genmab A/S.

Contact: Helle Husted, Sr. Director, Investor Relations, T:
+45-33-44-77-30, M: +45-25-27-47-13, E: hth@genmab.com

Stock Exchange Release no. 29/2007