PR Newswire, London, September 11.
This press release is transmitted on behalf of Genmab A/S Copenhagen, Denmark - Genmab A/S announced today that it intends to seek listings on the Copenhagen and Frankfurt stock exchanges in October 2000 by means of a global offering of ordinary shares.
UBS Warburg is acting as global co-ordinator and bookrunner of the global offering.
Carnegie Bank and Commerzbank are co-lead managers of the global offering.
Genmab is a biotechnology company using transgenic mouse technology to create and develop fully human antibodies to treat a wide variety of life threatening and debilitating diseases.
Genmab has a two-pronged strategy for maximizing the value of its antibody development capabilities.
First, the Company plans to move from genomics to products by developing antibodies to some of the unprecedented number of novel disease targets that are being discovered through genomics and other scientific efforts.
Second, the company is developing antibodies to certain clinically validated targets.
The Company intends to create a large and diverse portfolio of antibody products using this strategy.
Genmab believes that, generally, antibody products can be developed more rapidly and less expensively than traditional small molecule drugs.
Furthermore, the Company expects its fully human antibodies to have advantages over previous generations of antibodies including mouse, chimeric and humanised.
These potential advantages are expected to include the typically higher affinities found with the fully human antibodies created by Genmab's transgenic mouse technology.
In addition, the use of these fully human antibodies avoids the need for humanisation or complicated genetic engineering, which can be time-consuming and expensive.
Also, unlike Genmab's fully human antibodies, previous generations of antibodies have the potential to elicit allergic responses and/or other complications.
Genmab has four products in development.
The first of these products, HuMax(TM)-CD4 has completed a Phase I/II study to treat rheumatoid arthritis.
HuMax-IL15 and HuMax-EGFr, and one more cancer product to a validated target, are in pre-clinical development.
Genmab has corporate collaborations with Medarex, Inc., a leading US antibody company, and Immunex Corporation.
It also has access to novel genomics targets from both Eos Biotechnology, Inc.
and Oxford GlycoSciences (LSE: OGS.L - news) Plc.
Through its unique alliance with Medarex, Genmab has broad access to Medarex's patented HuMAb-Mouse(R) technology, as well as to the TC Mouse(TM) technology developed by Kirin Brewery Co.
Ltd.
Genmab's relationship with Medarex was recently expanded, providing it with rights to market these technologies for genomics alliances in Europe and the potential to collaborate with Medarex and target companies to develop antibody products to genomics and other novel targets.
Genmab was founded as an independent company in Copenhagen in February 1999, through the joint efforts of Medarex and a group of Danish investors, to develop and commercialise a portfolio of fully human antibodies.
Recently, Genmab completed a $40.5 Million private placement, the largest offering ever by a private European biotechnology company.
This offering was lead by Index Ventures, of Geneva, and included new investors Apax Europe IV, and Lombard Odier Immunology Fund, as well as all of Genmab's existing institutional investors: BankInvest, Lonmmodtagernes Dyrtisfond and A/S Dansk Erhvervsinvestering.
Medarex also invested in this round.
"Genmab has grown rapidly since its creation.
Our two-pronged strategy for exploiting our human antibody development capabilities should allow the Company to expand its growing therapeutic product pipeline," said Lisa N.
Drakeman, Chief Executive Officer of Genmab A/S.
"Our announcement to seek listings on the Copenhagen and Frankfurt stock exchanges reflects both Genmab's progress up to now and its future potential within the biotechnology industry." This announcement does not constitute, or form part of, an offer, or solicitation of an offer, for securities and any purchase of, or application for, shares to be issued or sold in connection with the Global Offer should only be made on the basis of information contained in the offering circular to be issued in connection with the Global Offer.
This announcement is not for distribution or release in or into Japan, Australia, Canada or the United States.
This offer does not constitute an offer for securities for sale in the United States.
The securities referred to herein have not been and will not be registered under the US Securities Act 1933, as amended and may not be offered or sold in the United States or to or for the benefit of United States persons except pursuant to an available exemption from registration.
Part of the global offer is expected to be conducted as a private placement in the United States.
Any private placement of the Company's securities in the United States will be made only by means of an offering circular that will contain detailed information about the Company and its management, as well as financial statements.
UNS Contact: Lisa N.
Drakeman, President and CEO, Genmab A-S, tel +45-70-20-27-28 Web site: genmab.com ends lah |
