Medarex Announces Initiation by Licensing Partner of Phase III Clinical Trial for Muckle Wells Syndrome
Wednesday July 18, 6:00 am ET
PRINCETON, N.J., July 18 /PRNewswire-FirstCall/ -- Medarex, Inc. (Nasdaq: MEDX - News) today announced the advancement by Novartis Pharma AG (Novartis) of ACZ885, a fully human anti-IL1 beta antibody, into a Phase III clinical trial for Muckle Wells Syndrome. As a result of such advancement, Medarex expects to receive an undisclosed milestone payment from its licensing partner, Novartis. The antibody was generated using Medarex's UltiMAb® technology as part of the collaboration with Novartis. Medarex may receive future milestone payments and royalties should this product candidate progress through clinical development and achieve commercial sales.
"This milestone represents the seventh UltiMAb antibody to move into Phase III clinical development. We are pleased with this advancement and hope to see the continued progress of this antibody," said Howard H. Pien, President and CEO of Medarex.
Medarex is a biopharmaceutical company focused on the discovery, development and potential commercialization of fully human antibody-based therapeutics to treat life-threatening and debilitating diseases, including cancer, inflammation, autoimmune disorders and infectious diseases. Medarex applies its UltiMAb® technology and product development and clinical manufacturing experience to generate, support and potentially commercialize a broad range of fully human antibody product candidates for itself and its partners. More than 30 of these therapeutic product candidates derived from Medarex technology are in human clinical testing or have had INDs submitted for such trials, with seven of the most advanced product candidates currently in Phase III clinical trials. Medarex is committed to building value by developing a diverse pipeline of antibody products to address the world's unmet healthcare needs. For more information about Medarex, visit its website at www.medarex.com... |
