Medarex Announces Commencement of Phase I Clinical Trials by Novartis of a Second UltiMAb Antibody
PRINCETON, N.J., May 6 /PRNewswire-FirstCall/ -- Medarex, Inc. (Nasdaq: MEDX - News) today announced that its licensee, Novartis Pharma AG, has commenced Phase I clinical trials of a fully human antibody product candidate for the treatment of autoimmune disease. This antibody is the second antibody in clinical development by Novartis that was created using Medarex's UltiMAb Human Antibody Development System(SM), and the tenth UltiMAb product for which an Investigational New Drug (IND) application is in effect. The achievement of this milestone will trigger an undisclosed payment to Medarex.
"We are extremely pleased with the clinical advances that Novartis has made with UltiMAb antibodies. We look forward to our ongoing relationship with Novartis as they continue with development and toward commercialization of antibody therapeutics derived from our technology," said Donald L. Drakeman, President and CEO of Medarex.
Medarex is a biopharmaceutical company focused on the discovery and development of therapeutics to treat life-threatening and debilitating diseases. Medarex's UltiMAb Human Antibody Development System(SM) is a unique combination of human antibody technologies that Medarex believes enables the rapid creation and development of fully human antibodies for a wide range of potential disease targets for therapeutic antibody products, including products for the treatment of cancer, inflammation, autoimmune and infectious diseases. Medarex's product pipeline is based on a variety of therapeutic antibody products developed through the use of its UltiMAb(TM) technology. Medarex creates and develops fully human antibodies for itself and others, offering a full range of antibody related capabilities, including pre-clinical and clinical development supported by cGMP manufacturing services. For more information about Medarex, visit its web site at www.medarex.com. |
