Genmab To Acquire Land For Manufacturing Facility In Denmark

24-Jan-2002

Copenhagen, Denmark, Genmab A/S Copenhagen, Denmark 23rd January 2002 - Genmab A/S (CSE:GEN and Neuer Markt: GE9D) announced today that its Board of Directors has approved the purchase of 100,000 square meters of land in Hillerød, Denmark to build a manufacturing facility. The company expects to complete the transaction shortly. In a separate development, Genmab also announced it will expand its state-of-the-art laboratories in Utrecht, doubling them in size, due to the increasing number of projects being generated by existing partners and the expected addition of new partnerships.

Initial designs for the manufacturing facility project that it will be 10,000 square meters plus further office space, and will result in the creation of between 100 and 200 high quality new jobs. This parcel of land is located adjacent to the area in Hillerød where other major pharmaceutical companies have chosen to place manufacturing plants. Genmab's laboratories and offices in Utrecht will be doubled in size providing up to 50 new jobs in the Netherlands. Genmab's Utrecht operation at present has 50 staff.

"This manufacturing facility is an important part of Genmab's strategy to build and maintain a broad pipeline and addresses a vital need as there is currently a shortage of manufacturing capacity in our industry," said Lisa N. Drakeman, Ph.D., Chief Executive Officer. "It is important that we are able to build this facility in Denmark and therefore utilise the high level of skills of Danish employees."

"We designed our state-of-the-art labs to be able to expand them easily should the need arise," said Jan van de Winkel, Ph.D, Chief Scientific Officer. "We are now so busy with expanding pre-clinical and clinical projects that we have on the same day as opening our labs, decided to announce that we will expand them."

"Genmab is growing rapidly as we work to bring urgently needed treatments to patients of life threatening and debilitating diseases. We intend to follow our business strategy to develop a broad portfolio of novel products, and the productivity and cooperation arising from our partnerships leaves us in a good position to do so," said Dr Lisa N. Drakeman.

https://www.bionity.com/en/news/7584/genmab-to-acquire-land-for-manufacturing-facility-in-denmark.html