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Biotech / Medical : MEDX ... anybody following?

MEDX 31.58

+1.4%

Nov 5 12:44 PM EST

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From: Icebrg	9/5/2007 6:14:46 AM
	of 2240

Medarex Announces Extension of Broad Antibody Development Relationship with Centocor Wednesday September 5, 6:00 am ET [Not much there to match the headline] PRINCETON, N.J., Sept. 5 /PRNewswire-FirstCall/ -- Medarex, Inc. (Nasdaq: MEDX - News) today announced the extension of a broad antibody development relationship with its licensing partner, Centocor R&D, Inc. The extended relationship provides Centocor with continued access to Medarex's UltiMAb Human Antibody Development System® for the generation of fully human antibodies to an unlimited number of targets. Under the terms of the new agreement, Centocor will license Medarex's UltiMAb® technology to discover and potentially develop and commercialize fully human antibody therapeutics. Medarex expects to receive license fees and milestone payments as well as royalties on commercial sales of any products that may result from this agreement. No further financial terms of the agreement were disclosed. Centocor first licensed the UltiMAb technology in 1997, and an expanded agreement was announced in 2000. "We are delighted with the opportunity to continue our relationship with Centocor," said Howard H. Pien, President and CEO of Medarex. "We have been pleased to be a partner to Centocor in its development of UltiMAb antibodies into potentially very important products, and we look forward to the extension of this partnership into the future."

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