PRINCETON, N.J., May 31 /PRNewswire-FirstCall/ -- Medarex, Inc.
(Nasdaq: MEDX) today announced a collaborative research agreement with
Mitsubishi Pharma Corporation, a subsidiary of Mitsubishi Chemical Holdings
Corporation. The two companies expect to generate and evaluate fully human
monoclonal antibodies against a Mitsubishi target for the potential
treatment of autoimmune diseases. The companies plan to use Medarex's
UltiMAb Human Antibody Development System(R) to generate antibodies for
research and possible development.
Under the terms of the agreement, Medarex and Mitsubishi Pharma will
share research responsibilities for any antibodies generated through the
collaboration. Other terms of the agreement were not disclosed.
"We are very much pleased to work with Medarex," said Dr. Tohru
Nakajima, Executive Officer/Division Manager of the Pharmaceutical Research
Division for Mitsubishi Pharma. "We will gain access to excellent expertise
that provides us with the potential advancement of novel therapeutics for
autoimmune diseases."
"We are pleased to have this opportunity to partner with Mitsubishi
Pharma Corporation and its research team and to work together to
potentially discover new antibody therapeutics," said Irwin Lerner, Interim
President and CEO of Medarex.
About Medarex, Inc.
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.
Statement on Cautionary Factors
For Medarex: 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 discovery and development and uncertainties related
to the implementation of the collaborative research agreement with
Mitsubishi Pharma Corporation 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 such
development efforts will succeed or that other 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.prnewswire.com/comp/108265.html/
CONTACT:
investor relations, Laura S. Choi,
+1-609-430-2880, x2216, or corporate communications, media, Jean
Mantuano, +1-609-430-2880, x2221
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