SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549
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FORM 6-K
REPORT OF FOREIGN PRIVATE ISSUER
PURSUANT TO RULE 13A-16 OR 15D-16 OF
THE SECURITIES EXCHANGE ACT OF 1934
For the month of May, 2005
Serono S.A.
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(Registrant's Name)
15 bis, Chemin des Mines
Case Postale 54
CH-1211 Geneva 20
Switzerland
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(Address of Principal Executive Offices)
1-15096
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(Commission File No.)
(Indicate by check mark whether the registrant files or will file annual
reports under cover of Form 20-F X or Form 40-F.)
Form 20-F X Form 40-F
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(Indicate by check mark if the registrant is submitting the Form 6-K in
paper as permitted by Regulation S-T Rule 101 (b)(1).) ____
(Indicate by check mark if the registrant is submitting the Form 6-K in
paper as permitted by Regulation S-T Rule 101 (b)(7).) ______
(Indicate by check mark whether the registrant by furnishing the
information contained in this form is also thereby furnishing the information to
the Commission pursuant to Rule 12g3-2(b) under the Securities Exchange Act of
1934.)
Yes No X
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(If "Yes" is marked, indicate below the file number assigned to the
registrant in connection with Rule 12g3-2(b): 82-______)
Genmab Serono
Media Release
FOR IMMEDIATE RELEASE
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SERONO AND GENMAB SIGN WORLDWIDE AGREEMENT
TO DEVELOP AND COMMERCIALIZE HUMAX-TAC
HUMAX-TAC MAY HAVE THERAPEUTIC POTENTIAL IN THE TREATMENT OF T-CELL MEDIATED
DISEASES
GENEVA, SWITZERLAND AND COPENHAGEN, DENMARK - MAY 2, 2005 -
Serono (virt-x: SEO and NYSE: SRA) and Genmab A/S (CSE: GEN) announced today
that they have signed an agreement under which Genmab grants Serono exclusive
worldwide rights to develop and commercialize Genmab's HuMax-TAC. The product
is a fully human monoclonal antibody targeting the TAC antigen - also known as
CD25, or the interleukin-2 receptor alpha subunit (IL-2Ra) - which is
overexpressed by activated T-cells. By inhibiting the proliferation of T-cells,
HuMax-TAC may have therapeutic potential in the treatment of T-cell mediated
diseases, such as autoimmune disorders, inflammatory and hyperproliferative skin
disorders, as well as acute transplant rejection. HuMax-TAC is currently in
pre-clinical trials.
Under the agreement, Genmab will receive an upfront payment of US$2 million and
is entitled to potential milestone payments of up to US$38 million and royalties
on sales from any eventual commercialization of the product. Serono will be
responsible for all future development costs for HuMax-TAC.
"We are very pleased to enter into this partnership with Serono for HuMax-TAC,"
said Lisa N. Drakeman, Ph.D., Chief Executive Officer of Genmab, "Serono's
wealth of knowledge and expertise in developing and marketing products can be
applied to the ongoing development of HuMax-TAC."
"We are committed to the development of novel therapeutics to fulfill
significant unmet medical needs," said Timothy N.C. Wells, Ph.D, Head of
Research at Serono. "We believe that HuMax-TAC brings a new dimension to the
treatment of many of the key diseases where Serono has a scientific and medical
interest."
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Genmab forward looking statements
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.
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Serono forward looking statements
Some of the statements in this press release are forward looking. Such
statements are inherently subject to known and unknown risks, uncertainties and
other factors that may cause actual results, performance or achievements of
Serono S.A. and affiliates to be materially different from those expected or
anticipated in the forward-looking statements. Forward-looking statements are
based on Serono's current expectations and assumptions, which may be affected by
a number of factors, including those discussed in this press release and more
fully described in Serono's Annual Report on Form 20-F filed with the U.S.
Securities and Exchange Commission on March 16, 2005. These factors include any
failure or delay in Serono's ability to develop new products, any failure to
receive anticipated regulatory approvals, any problems in commercializing
current products as a result of competition or other factors, our ability to
obtain reimbursement coverage for our products, the outcome of government
investigations and litigation and government regulations limiting our ability to
sell our products. Serono has no responsibility to update the forward-looking
statements contained in this press release to reflect events or circumstances
occurring after the date of this press release.
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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. At present, Genmab has multiple
partnerships to gain access to disease targets and develop novel human
antibodies including agreements with Roche and Amgen. A broad alliance provides
Genmab with access to Medarex, Inc.'s array of proprietary technologies,
including the UltiMAb(TM) platform for the rapid creation and development of
human antibodies to virtually any disease target. Genmab is headquartered in
Copenhagen, Denmark, and has operations in Utrecht, The Netherlands, and
Princeton, New Jersey in the US. For more information about Genmab, visit
www.genmab.com.
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ABOUT SERONO
Serono is a global biotechnology leader. The Company has eight biotechnology
products, Rebif(R), Gonal-f(R), Luveris(R), Ovidrel(R)/Ovitrelle(R),
Serostim(R), Saizen(R), Zorbtive(TM) and Raptiva(R). In addition to being the
world leader in reproductive health, Serono has strong market positions in
neurology, metabolism and growth and has recently entered the psoriasis area.
The Company's research programs are focused on growing these businesses and on
establishing new therapeutic areas, including oncology. Currently, there are
approximately 30 ongoing development projects.
In 2004, Serono achieved worldwide revenues of US$2,458.1 million, and a net
income of US$494.2 million, making it the third largest biotech company in the
world. Its products are sold in over 90 countries. Bearer shares of Serono
S.A., the holding company, are traded on the virt-x (SEO) and its American
Depositary Shares are traded on the New York Stock Exchange (SRA).
FOR MORE INFORMATION, PLEASE CONTACT:
SERONO
CORPORATE MEDIA RELATIONS: CORPORATE INVESTOR RELATIONS:
Tel: +41 22 739 36 00 Tel: +41 22 739 36 01
Fax: +41 22 739 30 85 Fax: +41 22 739 30 22
http://www.serono.com Reuters: SEO.VX / SRA.N
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Bloomberg: SEO VX / SRA US
MEDIA RELATIONS, USA: INVESTOR RELATIONS, USA:
Tel: +1 781 681 2340 Tel: +1 781 681 2552
Fax: +1 781 681 2935 Fax: +1 781 681 2912
http://www.seronousa.com
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GENMAB
Helle Thalund Husted
Director, Investor Relations
T: +45 70 20 27 28
F: +45 70 20 27 29
E: hth@genmab.com
UltiMAb(R) is a registered trademark of Medarex, Inc.
HuMax(R) is a registered trademark of Genmab A/S
HuMax-CD4(TM) is a trademark of Genmab A/S
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SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934, the
registrant has duly caused this report to be signed on its behalf by the
undersigned, thereunto duly authorized.
SERONO S.A.
a Swiss corporation
(Registrant)
May 2, 2005 By: /s/ Stuart Grant
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Name: Stuart Grant
Title: Chief Financial Officer