PRINCETON, N.J., July 16 /PRNewswire-FirstCall/ -- BioWa, Inc. and
Medarex, Inc. (Nasdaq: MEDX) announced today that they have entered into a
license agreement which provides Medarex with the first ever access to
BioWa's COMPLEGENT(TM) Technology for enhancing the complement-dependent
cytotoxicity (CDC) of select Medarex therapeutic antibodies.
The license grants Medarex non-exclusive rights to research, develop
and commercialize therapeutic antibodies based on COMPLEGENT(TM) Technology
for an undisclosed number of targets. In return, BioWa will receive upfront
payment, license fees, development milestone payments and royalties on
products. Other details of the agreement are not disclosed.
"We are very pleased to announce this new partnership with Medarex, who
is also our first partner for POTELLIGENT(R) Technology," commented Dr.
Masamichi Koike, President and CEO of BioWa. "This collaboration with
Medarex greatly helps us explore the potential of COMPLEGENT(TM) Technology
for antibody-based therapies."
"We are excited about the possibility of enhancing our antibodies with
BioWa's technology platform," said Howard H. Pien, President and CEO of
Medarex. "Our partnership grants Medarex the first access to COMPLEGENT(TM)
Technology and we look forward to investigating its potential as we
continue to advance our pipeline."
About COMPLEGENT(TM) Technology
COMPLEGENT(TM) Technology is a new technology developed by Kyowa Hakko
Kogyo Co., Ltd. that enhances one of the major mechanisms of action of an
antibody, CDC. With an approach called isotype chimerism, in which portions
of IgG3, an antibody's isotype, are introduced into corresponding regions
of IgG1, the standard isotype for therapeutic antibodies, COMPLEGENT(TM)
Technology significantly enhances CDC activity beyond that of either IgG1
or IgG3, while retaining the desirable features of IgG1, such as ADCC, PK
profile and Protein A binding. In addition, it can be used together with
POTELLIGENT(R) Technology, creating an even superior therapeutic Mab
(AccretaMab(TM)) with enhanced ADCC and CDC activities.
About BioWa, Inc.
BioWa is a wholly owned subsidiary of Kyowa Hakko Kogyo Co., Ltd. (TSE:
4151), Japan's leading pharmaceutical and largest biotech company, and is
the exclusive worldwide licensor of AccretaMab(TM) platform. AccretaMab(TM)
platform consists of POTELLIGENT(R) and COMPLEGENT(TM) Technologies,
creating a superior antibody molecule with enhanced ADCC and CDC
activities. BioWa is offering POTELLIGENT(R) and COMPLEGENT(TM)
Technologies to partners under a license to maximize the value of these
technologies. Together with Kyowa, BioWa is focused on development of
ADCC/CDC enhanced monoclonal antibody-based therapeutics to fight cancer
and other life-threatening and debilitating diseases. For more information
about BioWa, visit its web site at http://www.biowa.com.
POTELLIGENT(R), COMPLEGENT(TM), and AccretaMab(TM) are the trademarks
of Kyowa Hakko Kogyo Co., Ltd. All rights are reserved.
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 40 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 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 products to address the
world's unmet healthcare needs. For more information about Medarex, visit
its website at http://www.medarex.com.
Medarex Statement on Cautionary Factors
Except for the historical information presented herein, matters
discussed herein may constitute forward-looking statements, as defined in
the Private Securities Litigation Reform Act of 1995, 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
"suggests"; "potential"; or "may"; or similar statements are
forward-looking statements. Medarex disclaims, however, any intent or
obligation to update these forward-looking statements. These risks and
uncertainties include those 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, 2007 and its quarterly reports on Form 10-Q. 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.biowa.com
http://www.prnewswire.com/comp/108265.html /
CONTACT:
Laura S. Choi, Investor Relations,
+1-609-430-2880, x2216, or Nichol Harber, Corporate
Communications (media), +1-609-430-2880, x2214, both of Medarex,
Inc.; or Masamichi Koike, Ph.D. President and CEO of BioWa, Inc.,
+1-609-734-3420
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