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.
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. 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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Related links:
http://www.medarex.com
http://www.prnewswire.com/comp/108265.html/
CONTACT:
Laura S. Choi, Investor Relations,
+1-609-430-2880, x2216, or Jean Mantuano, Corporate
Communications - media, +1-609-430-2880, x2221, both of Medarex,
Inc.
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