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Medarex Announces 2008 Third Quarter Financial Results
Date:10/30/2008

plications for two separate antibodies generated by Medarex's UltiMAb(R) technology.

-- Announcing the receipt of a milestone payment from MedImmune, Inc. for initiation of a Phase 2a multi-dose clinical trial of MEDI-545, an anti-interferon-alpha HuMAb(TM) for systemic lupus erythematosis.

About Medarex

Medarex is a biopharmaceutical company focused on the discovery, development and potential commercialization of fully human antibody-based therapeutics to treat life-threatening and debilitating diseases, including cancer, inflammation, autoimmune disorders and infectious diseases. Medarex applies its UltiMAb(R) technology and product development and clinical manufacturing experience to generate, support and potentially commercialize a broad range of fully human antibody product candidates for itself and its partners. Over forty of these therapeutic product candidates derived from Medarex technology are in human clinical testing or have had INDs submitted for such trials, with the most advanced product candidates currently in Phase 3 clinical trials or the subject of regulatory applications for marketing authorization. Medarex is committed to building value by developing a diverse pipeline of antibody products to address the world's unmet healthcare needs. For more information about Medarex, visit its website at http://www.medarex.com.

Statement on Cautionary Factors

Except for the historical information presented herein, the statements relating to Medarex's investments and advances related to its products in this press release may constitute forward-looking statements, as defined in the Private Securities Litigation Reform Act of 1995, that are subject to certain risks and uncertainties that could cause actual results to differ materially from any future results, performance or achievements expressed or implied by such statements. Statements that are not historical facts, includin
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SOURCE Medarex, Inc.
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