Potentially very big deal for MEDX -
Jan. 9 /PRNewswire/ -- Medarex, Inc. (Nasdaq: MEDX - news) and Novo Nordisk, A/S (NYSE: NVO - news) announced today an alliance to develop fully human antibody therapeutics. The companies plan to combine Medarex's UltiMAb(TM) Human Antibody Development System(SM) and T-12 Development(SM) with Novo Nordisk's expertise in the field of protein therapeutics to create antibodies to multiple disease targets identified by Novo Nordisk.
Under the terms of the agreement, Novo Nordisk will develop and commercialize any human antibody products that may result from this alliance. Medarex will receive certain upfront payments and expects to receive milestone payments as well as royalties on commercial sales of products resulting from the alliance with Novo Nordisk.
``We are excited by the opportunity to utilize our UltiMAb technology to develop fully human antibodies to targets discovered by Novo Nordisk. Through this alliance, we expect to provide Novo Nordisk with numerous therapeutic candidates for further development,'' said Donald L. Drakeman, President and CEO of Medarex.
``We are pleased with the opportunity to access Medarex's array of antibody development technology, including the T-12 Development program. We consider this program to be highly competitive in the area of developing fully human antibody based therapeutics,'' said Mads Krogsgaard Thomsen, Executive Vice President and Chief Science Officer of Novo Nordisk.
Novo Nordisk A/S is a focused healthcare company and the world leader in diabetes care. In addition, Novo Nordisk manufactures and markets a variety of other pharmaceutical products. With headquarters in Denmark, Novo Nordisk employs approximately 14,000 people in 68 countries and markets its products in 179 countries. Its B shares are listed on the stock exchanges in Copenhagen and London. Its ADSs are listed on the New York Stock Exchange under the symbol ``NVO''. For further company information visit www.novonordisk.com. |
