Medarex Announces Extension of Broad Antibody Development Relationship with Centocor

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Medarex Announces Extension of Broad Antibody Development Relationship with Centocor
    PRINCETON, N.J., Sept. 5 /PRNewswire-FirstCall/ -- Medarex, Inc.
(Nasdaq: MEDX) today announced the extension of a broad antibody
development relationship with its licensing partner, Centocor R&D, Inc. The
extended relationship provides Centocor with continued access to Medarex's
UltiMAb Human Antibody Development System(R) for the generation of fully
human antibodies to an unlimited number of targets.
    Under the terms of the new agreement, Centocor will license Medarex's
UltiMAb(R) technology to discover and potentially develop and commercialize
fully human antibody therapeutics. Medarex expects to receive license fees
and milestone payments as well as royalties on commercial sales of any
products that may result from this agreement. No further financial terms of
the agreement were disclosed.
    Centocor first licensed the UltiMAb technology in 1997, and an expanded
agreement was announced in 2000.
    "We are delighted with the opportunity to continue our relationship
with Centocor," said Howard H. Pien, President and CEO of Medarex. "We have
been pleased to be a partner to Centocor in its development of UltiMAb
antibodies into potentially very important products, and we look forward to
the extension of this partnership into the future."
    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. 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 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, uncertainties
concerning Centocor's activities under its agreement with Medarex, 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 and
its quarterly reports on Form 10-Q. There can be no assurance that future
milestone payments will be paid, whether the product development efforts
will succeed, or whether 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.
http://www.medarex.com
http://www.prnewswire.com/comp/108265.html /
CONTACT:
Laura S. Choi, Investor Relations, x2216, or
Jean Mantuano, Corporate Communications, media, x2221, both of
Medarex, Inc., +1-609-430- 2880