OSS, Netherlands and PRINCETON, N.J., May 16 /PRNewswire-FirstCall/ --
Organon, the human health care business unit of Akzo Nobel, and Medarex,
Inc. (Nasdaq: MEDX) today announced that they have entered into a
collaborative agreement to develop and potentially commercialize fully
human antibody therapeutics for the treatment of cancer and auto-immune
disorders, utilizing Medarex's UltiMAb Human Antibody Development System(R)
and Organon's expertise in drug discovery and development.
Under the terms of the agreement, Medarex and Organon plan to share
development and commercialization responsibilities on any antibody-based
therapeutics resulting from this collaboration, and to share revenues
generated from the sale of such therapeutic products. Financial terms were
not disclosed.
"We have recently increased our efforts in Cambridge, Massachusetts, to
identify novel biologicals which will be effective treatments for
auto-immune and oncological disorders, this additional collaboration with
Medarex represents a further step towards becoming a very effective
biological drug hunting company," said David Nicholson, executive vice
president R&D at Organon.
"We are pleased with the opportunity to expand our relationship through
this new partnership with Organon, and we look forward to working
collaboratively with them on the development of potential new cancer and
auto- immune biotherapeutics," said Irwin Lerner, Chairman of the Board of
Directors and Interim President and CEO of Medarex.
About Organon
Organon creates, manufactures and markets innovative prescription
medicines that improve the health and quality of human life. Through a
combination of innovation and business partnerships, Organon seeks to
leverage its position as a leading biopharmaceutical company in each of its
core therapeutic fields: fertility, gynecology and selected areas of
anesthesia. It has extensive expertise in neuroscience and a rich and
focused R&D program. Research areas also include immunology and specific
areas of oncology. Organon products are distributed in over 100 countries
worldwide, of which more than 50 have an Organon subsidiary. Organon is the
human healthcare business unit of Akzo Nobel.
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 six of the most advanced product candidates currently
in Phase III clinical trials. 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
website at http://www.medarex.com.
For Organon: Safe Harbor Statement *
This press release may contain statements which address such key issues
as Akzo Nobel's growth strategy, future financial results, market
positions, product development, pharmaceutical products in the pipeline,
and product approvals. Such statements should be carefully considered, and
it should be understood that many factors could cause forecasted and actual
results to differ from these statements. These factors include, but are not
limited to, price fluctuations, currency fluctuations, progress of drug
development, clinical testing and regulatory approval, developments in raw
material and personnel costs, pensions, physical and environmental risks,
legal issues, and legislative, fiscal, and other regulatory measures.
Stated competitive positions are based on management estimates supported by
information provided by specialized external agencies. For a more
comprehensive discussion of the risk factors affecting our business please
see our Annual Report on Form 20-F filed with the United States Securities
and Exchange Commission, a copy of which can be found on the company's
corporate website http://www.akzonobel.com. The 2006 Annual Report on Form
20-F will be available in the second quarter of 2007.
* Pursuant to the U.S. Private Securities Litigation Reform Act 1995.
Medarex Statement on Cautionary Factors
Except for the historical information presented herein, matters
discussed herein may constitute forward-looking statements that are subject
to certain risks and uncertainties that could cause actual results to
differ materially from any future results, performance or achievements
expressed or implied by such statements. Statements that are not historical
facts, including statements preceded by, followed by, or that include the
words "potential"; "believe"; "anticipate"; "intend"; "plan"; "expect";
"estimate"; "could"; "may"; or similar statements are forward-looking
statements. Medarex disclaims, however, any intent or obligation to update
these forward-looking statements. Risks and uncertainties include risks
associated with product development, unforeseen safety issues resulting
from the administration of antibody products in humans, as well as risks
detailed from time to time in Medarex's public disclosure filings with the
U.S. Securities and Exchange Commission (SEC), including its Annual Report
on Form 10-K for the fiscal year ended December 31, 2006. There can be no
assurance that the product development efforts will succeed, or whether
developed products will receive required regulatory clearance or that, even
if such regulatory clearance were received, such products would ultimately
achieve commercial success. Copies of Medarex's public disclosure filings
are available from its investor relations department.
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.akzonobel.com
http://www.prnewswire.com/comp/108265.html /
CONTACT:
Monique Mols Director Media Relations of
Organon, +31-412-66-54-40, monique.mols@organon.com; or Laura S.
Choi, Investor Relations, +1-609-430-2880, Ext. 2216, or Jean
Mantuano, Corporate Communications (media), +1-609-430-2880, Ext.
2221, both of Medarex, Inc.
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