MEDX ... anybody following? Message Board

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Biotech / Medical : MEDX ... anybody following?

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To: nigel bates who wrote (907)	11/8/2004 4:59:36 PM
From: Icebrg	Read Replies (1) of 2240

Thanks! Yes it is a very sweet deal. Not so much because of the financial arrangements as for the fact that Medarex has really managed to leverage its position. The money Medarex will receive from BMY up front will be enough to cover its share of the remaining development costs. There is a co-promotion arrangement and BMY has agreed to train Medarex's sales"force". The cash and debt situation which looked quite alarming a year ago has now been settled and the company is almost awash with cash. At least for the time being. BMY was really my partner of choice. They have a lot of interest to protect their position in oncology and they have been working with CTLA-4 on the other i.e. agonist side. So, they should know much more about these processes than what a "normal" partner would do. With both Pfizer and Bristol on board this approach now has a lot going for it. And whatever outstanding IP concerns there might have been should by now finally have been settled. Erik

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