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Medarex And PharmAthene Announce New Therapeutic Data for Anthrax Anti-Toxin, Valortim(R)
Date:10/28/2008

- Data Presentation at 48th ICAAC / IDSA 46th Annual Meeting -

PRINCETON, N.J. and ANNAPOLIS, Md., Oct. 28 /PRNewswire-FirstCall/ -- Medarex, Inc. (Nasdaq: MEDX), a leading monoclonal antibody company, and PharmAthene, Inc. (NYSE: PIP), a biodefense company developing medical countermeasures against biological and chemical threats, today announced results from a pilot study showing that the anthrax anti-toxin, Valortim(R) (MDX-1303), enhanced survival as compared to a control group in a therapeutic animal model known as the New Zealand White (NZW) rabbit model. Valortim is a fully human monoclonal antibody generated by Medarex's UltiMAb(R) technology that is being co-developed by the two companies for potential use as an anti- toxin therapeutic to prevent and treat inhalation anthrax.

The data were presented in an oral presentation entitled "Therapeutic Efficacy of MDX-1303, an Anti-toxin Monoclonal Antibody, for Inhalation Anthrax in the New Zealand White (NZW) Rabbit Model" at the 48th ICAAC/ IDSA 46th Annual Meeting by Israel Lowy, M.D., Ph.D., Senior Director of Clinical Science and Infectious Diseases at Medarex.

David P. Wright, President & Chief Executive Officer of PharmAthene, commented, "Mounting evidence from a number of animal studies suggests that Valortim may be efficacious as both a prophylactic and therapeutic for inhalation anthrax infection. Based on these results, we believe that Valortim is ideally positioned for procurement consideration in the Strategic National Stockpile,
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SOURCE Medarex, Inc.
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