Medarex and Organon Announce Biotherapeutics Development Agreement
Wednesday May 16, 8:00 am ET
OSS, Netherlands and PRINCETON, N.J., May 16 /PRNewswire-FirstCall/ -- Organon, the human health care business unit of Akzo Nobel, and Medarex, Inc. (Nasdaq: MEDX - News) today announced that they have entered into a collaborative agreement to develop and potentially commercialize fully human antibody therapeutics for the treatment of cancer and auto-immune disorders, utilizing Medarex's UltiMAb Human Antibody Development System® and Organon's expertise in drug discovery and development.
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Under the terms of the agreement, Medarex and Organon plan to share development and commercialization responsibilities on any antibody-based therapeutics resulting from this collaboration, and to share revenues generated from the sale of such therapeutic products. Financial terms were not disclosed.
"We have recently increased our efforts in Cambridge, Massachusetts, to identify novel biologicals which will be effective treatments for auto-immune and oncological disorders, this additional collaboration with Medarex represents a further step towards becoming a very effective biological drug hunting company," said David Nicholson, executive vice president R&D at Organon.
"We are pleased with the opportunity to expand our relationship through this new partnership with Organon, and we look forward to working collaboratively with them on the development of potential new cancer and auto- immune biotherapeutics," said Irwin Lerner, Chairman of the Board of Directors and Interim President and CEO of Medarex. |
