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Medarex Receives Milestone Payment for Investigational Antibody Targeting Integrin Receptors
Date:11/5/2008

PRINCETON, N.J., Nov. 5 /PRNewswire-FirstCall/ -- Medarex, Inc. (Nasdaq: MEDX) today announced that it has received a milestone payment of an undisclosed amount from its licensing partner, Centocor R&D Inc., for the completion of a Phase 2 trial of CNTO 95, a fully human antibody targeting the integrin receptors that are implicated in tumor-induced angiogenesis. The CNTO 95 human antibody was generated using Medarex's UltiMAb(R) technology. Medarex may receive future milestone payments and royalties should this product candidate progress to commercialization and achieve commercial sales.

"We are pleased with the progress of this program and the potential of technology licensing programs under our partnership with Centocor to contribute to future revenues," said Howard H. Pien, President and CEO of Medarex.

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
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SOURCE Medarex, Inc.
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