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Medarex Announces 2007 Fourth Quarter and Year End Financial Results
Date:2/26/2008

f Clinical

Oncology (ASCO);

-- Announcing the receipt of a milestone payment from our licensing

partner, Novartis Pharma AG, in connection with the progress of ACZ885,

a fully human anti-IL-1beta antibody in Phase 3 development for the

treatment of Muckle Wells' Syndrome that was generated using Medarex's

UltiMAb(R) technology;

-- Announcing the receipt of a milestone payment from our licensing

partner, Amgen, Inc., for the advancement of an antibody into a Phase 2

clinical trial;

-- Filing the IND with the FDA for MDX-1401, a fully human second-

generation anti-CD30 antibody, in development for the treatment of

CD30-positive lymphomas;

-- Announcing the IND filing by licensing partner ImClone Systems

Incorporated for IMC-3G3, a fully human antibody that targets platelet-

derived growth factor receptor alpha for the treatment of cancer;

-- Announcing the initiation of a Phase 1 clinical trial of MEDI-545, a

fully human antibody targeting interferon-alpha, for the treatment of

psoriasis by Medarex's partner, MedImmune, Inc.;

-- Entering into separate collaboration agreements with Mitsubishi Pharma

Corporation (a subsidiary of Mitsubishi Chemical Holdings Corporation),

Organon (now part of Schering-Plough), and Compugen Ltd. to develop

fully human antibodies for the treatment of cancer and/or autoimmune

diseases;

-- Announcing the award of up to an additional $13.9 million of government

funding to Medarex's partner, PharmAthene, Inc., towards the

development of Valortim(TM) for use as an anti-toxin therapeutic to

prevent and treat inhalation anthrax infections; and

-- Adding approximately $152 million to our cash resources in 2007 through

the sale of approximately 2.6 million shares of Genmab A/S common

stock.

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SOURCE Medarex, Inc.
Copyright©2008 PR Newswire.
All rights reserved

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