Darwin Global Management Reports New 5.9% Passive Stake in Genmab A/S

Investment Overview

On October 6, 2026, Darwin Global Management, Ltd., alongside Chief Investment Officer Dr. Abhishek Trehan and Darwin Global Master Fund, Ltd., filed an initial Schedule 13G disclosing an aggregate beneficial ownership of 3,668,310 Ordinary Shares (including shares represented by American Depositary Shares) of Genmab A/S ($GMAB). This represents approximately 5.9% of the company's 62,405,855 outstanding Ordinary Shares as of the September 28, 2026 event date.

Position Breakdown

• Darwin Global Management, Ltd. & Dr. Abhishek Trehan:
  • Aggregate Shares: 3,668,310 (5.9%)
  • Composition: 1,825,006 Ordinary Shares directly/indirectly held and 18,433,047 ADSs (representing 1,843,304 Ordinary Shares, at 10 ADSs per Ordinary Share).
  • Voting & Dispositive Power: Shared voting and dispositive power over all 3,668,310 shares; sole power is 0.
• Darwin Global Master Fund, Ltd.:
  • Aggregate Shares: 3,569,746 (5.7%)
  • Composition: 1,775,809 Ordinary Shares and 17,939,370 ADSs (representing 1,793,937 Ordinary Shares).

Regulatory Significance

The filing was made pursuant to Rule 13d-1(c), indicating a passive investment without an intent to exert control over the issuer or engage in activist campaigns. The disclosure highlights growing institutional interest from life sciences-focused investment managers in Genmab A/S.