Double M alliance:
biz.yahoo.com
Tuesday June 13, 2:40 pm Eastern Time
Company Press Release
SOURCE: MedImmune, Inc.
MedImmune and Medarex Enter Broad Antibody Agreement
GAITHERSBURG, Md., and PRINCETON, N.J., June 13 /PRNewswire/ -- MedImmune, Inc. (Nasdaq: MEDI - news) and Medarex, Inc. (Nasdaq: MEDX - news) announced today that they have signed an agreement to develop fully human antibodies to multiple antigens using Medarex's HuMAb-Mouse© technology. Under the terms of the agreement, MedImmune receives an exclusive, worldwide license for the use of Medarex's HuMAb-Mouse technology for the development of antibodies against respiratory syncytial virus (RSV) and an option to further license the use of this technology for additional antigens. Medarex receives technology access fees and could also receive license and milestone payments, as well as royalties on product sales.
``We are excited about the opportunity to use Medarex's HuMAb-Mouse technology to evaluate new antibodies for potential product development,'' said Dr. Wayne T. Hockmeyer, MedImmune's chairman and chief executive officer.
``We are extremely pleased to add MedImmune to our growing list of HuMAb- Mouse partners,'' said Donald L. Drakeman, Medarex's president and chief executive officer. ``MedImmune's proven product development capabilities are a good match for our HuMAb-Mouse technology.''
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