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Medarex to Receive Milestone Payment from Amgen
Date:12/18/2007

PRINCETON, N.J., Dec. 18 /PRNewswire-FirstCall/ -- Medarex, Inc. (Nasdaq: MEDX) today announced that it will receive a milestone payment for an undisclosed amount from its licensing partner, Amgen, for advancing an antibody into human clinical trials. The antibody was developed using Medarex's UltiMAb(R) technology and is the fifth UltiMAb-derived antibody in clinical development by Amgen, including two UltiMAb antibodies in Phase II clinical studies. Medarex may receive future milestone payments and royalties should this product candidate progress through clinical development and to the market.

"As a leading biotechnology company, Amgen continues to use its product development expertise to move UltiMAb-derived antibodies into clinical development and potentially toward commercialization," said Howard H. Pien, President and CEO of Medarex. "We are pleased by the advancements made by Amgen with UltiMAb antibodies and look forward to their continued progress."

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 s
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SOURCE Medarex, Inc.
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