MEDX ... anybody following? Message Board

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Biotech / Medical : MEDX ... anybody following?

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To: Icebrg who wrote (799)	4/9/2004 3:58:39 PM
From: Icebrg	Read Replies (1) of 2240

Medarex plans $50 million IPO for unit Associated Press WASHINGTON - Biotechnology company Medarex Inc. plans to take its Celldex Therapeutics subsidiary public in an offering worth up to $50 million, according to a regulatory filing Friday. Medarex, which is based in Princeton, N.J., develops antibody therapies. Celldex focuses on products designed to either enhance or suppress the immune system. Details about the number of shares offered and estimated price range for the IPO weren't disclosed in the Securities and Exchange Commission filing. Proceeds will be used to continue the clinical development and commercialization of the company's product candidates, and to expand its research and development programs. Part of the proceeds will be used to pay potential license and other fees to Medarex, which will own 75 percent of Celldex's stock after the IPO. The company plans to list its shares on the Nasdaq Stock Market under the symbol "CDEX." sunherald.com

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