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Medarex and Centocor Enter Broad Antibody Development Agreement

PR Newswire
Wednesday May 3 7:00am
PRINCETON, N.J., May 3 /PRNewswire/ -- Medarex, Inc. (Nasdaq: Fehler! Textmarke nicht definiert.) announced today a broad antibody development agreement with Centocor, Inc., a wholly owned subsidiary of Johnson & Johnson (NYSE: Fehler! Textmarke nicht definiert.). This agreement allows Centocor and other affiliates of Johnson & Johnson to access the HuMAb-Mouse(TM) technology for an unlimited number of targets. Under the terms of the agreement, Medarex will receive technology access fees, and could also receive license fees, milestone fees and royalties on product sales.
Centocor has developed a high-affinity human antibody from the HuMAb-Mouse, which is in pre-clinical development, and has other product candidates as well. Specifics about the clinical applications are confidential.
"This new agreement with Johnson & Johnson represents our nineteenth HuMAb-Mouse partnership," said Donald L. Drakeman, President and CEO of Medarex. "We look forward to an ongoing successful collaboration."
Centocor is a wholly owned subsidiary of Johnson & Johnson, the worldwide manufacturer of healthcare products. For additional information about Centocor and its products, visit Centocor`s website Fehler! Textmarke nicht definiert..
Medarex is a biopharmaceutical company developing monoclonal antibody-based therapeutics to fight cancer and other life-threatening and debilitating diseases. The Company has developed a broad platform of patented technologies for antibody discovery and development, including the HuMAb-Mouse system for the creation of high-affinity human antibodies. Medarex`s HuMAb-Mouse technology is a transgenic mouse system that creates high affinity, fully human antibodies instead of mouse antibodies. Using standard, well proven laboratory techniques, scientists can produce these fully human antibodies in a matter of months. Medarex creates and develops human antibodies for itself and others, offering a full range of antibody development capabilities, including pre-clinical and clinical manufacturing services. For more information about the company visit its web site at Fehler! Textmarke nicht definiert..
Except for the historical information contained herein, the matters discussed in this news release are forward-looking statements that involve risks and uncertainties, including uncertainties related to product development, uncertainties related to the need for regulatory and other government approvals, dependence on proprietary technology, uncertainty of market acceptance of the company`s product candidates, uncertainties related to business opportunities, the receipt of future payments, the continuation of business partnerships and other risks detailed from time to time in the company`s filings with the Securities and Exchange Commission (SEC).
Source: Medarex, Inc.
Contact: Donald L. Drakeman, President and CEO of Medarex, 609-430-2880, or Kimberly Hofman of Middleberg + Associates, 212-888-6610, ext. 544, or Fehler! Textmarke nicht definiert., for Medarex

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