PRINCETON, N.J., Feb. 1 /PRNewswire-FirstCall/ -- Medarex, Inc. (Nasdaq: MEDX) announced today that it has completed the sale of approximately 2.5 million shares of Genmab A/S which stock is traded on the Copenhagen Stock Exchange. The trade is expected to settle on February 1, 2008. Medarex expects to receive approximately $151.8 million (USD) in net proceeds from the sale. The sale of Genmab shares reduces Medarex's ownership in Genmab to approximately 5.1 percent.
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. More than 30 of these therapeutic product candidates derived from Medarex technology are in human clinical testing or have had INDs submitted for such trials, with seven of the most advanced product candidates currently in Phase III 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 Web site at http://www.medarex.com.
Medarex(R), the Medarex logo and UltiMAb(R) are registered trademarks of Medarex, Inc. All rights are reserved.
|SOURCE Medarex, Inc.|
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