MEDX ... anybody following? Message Board

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Biotech / Medical : MEDX ... anybody following?

MEDX 31.58

+1.4%

Nov 5 12:44 PM EST

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To: Icebrg who wrote (689)	6/23/2003 1:29:42 PM
From: keokalani'nui	Read Replies (1) of 2240

I dunno, maybe I'm old fashioned, but I do not like the way either medx or genmab discloses its interest in the IL-15 program. Within its pipeline chart and under the heading “Outlicensed products in the Clinic” Medarex highlights IL-15 Mab. But if you follow the footnote, you find the license was actually a contribution to GenMab in exchange for stock—no medx proprietary interest remains, no royalties not milestones zip! GenMab’s own annual report describes the anti-IL-15 program as a collaboration (!) with Amgen. Some collaboration. GenMab is responsible for all development through P2 after which amgn has an option to take over the product and develop it starting with P3. In 2001 the Company entered into an agreement with Immunex Corporation (“Immunex”) for the exclusive worldwide rights to Immunex’s patent estate relating to antibodies towards IL15 and IL15r. Immunex retains an option exercisable after Phase II clinical trials have been completed, to commercialize the resulting product. Upon exercise of the option, Immunex would be obligated to pay to the Company license fees, milestone payments as well as be obligated to share future profits with the Company. Immunex would also be responsible for all future development costs. Subsequent to signing the agreement, Immunex was acquired by Amgen, who has succeded in the rights and obligations under this agreement. (Same deal for GenMab HumMax-lymphoma Mab.)

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