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Biotech / Medical : MEDX ... anybody following?

MEDX 31.24

+0.2%

Oct 31 9:30 AM EDT

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From: Icebrg	4/9/2009 4:10:25 PM
	of 2240

Celldex Therapeutics Enhances Immunotherapy Platform with Acquisition of Exclusive Rights to Immune-stimulatory Molecules from Amgen Flt3L among assets to be utilized in Cancer and Anti-inflammatory Immunotherapies NEEDHAM, Mass.--(BUSINESS WIRE)--Celldex Therapeutics, Inc. (NASDAQ: CLDX - News) today announced that the Company has expanded its Precision Targeted Immunotherapy Platform by acquiring exclusive rights to FMS-like tyrosine kinase 3 ligand (Flt3L) and CD40 ligand (CD40L), from Amgen (NASDAQ: AMGN - News). Specific terms of the agreement were not disclosed. Flt3L and CD40L are immune modulating molecules that increase the numbers and activity of immune cells that control immune responses. Celldex believes these ligands may hold significant opportunity for synergistic development in combination with other proprietary molecules in the Company’s portfolio. “We are extremely pleased to be in the position to continue the clinical development of these biologically active molecules,” said Tibor Keler, Chief Scientific Officer of Celldex Therapeutics. “In particular, we believe that Flt3L has significant potential to be developed in a number of indications in cancer, inflammatory and infectious diseases. “This agreement with Amgen is part of Celldex’s ongoing development strategy to identify technology and product candidates that we believe hold significant value that can be unlocked with our Precision Targeted Immunotherapy Platform,” added Anthony Marucci, President and CEO of Celldex Therapeutics. About Celldex’s Agreement with Amgen Pursuant to its agreement with Amgen, Celldex has acquired exclusive rights to develop and commercialize two molecules known as Flt3L and CD40L. Flt3L is a potent hematopoietic cytokine that stimulates the expansion and differentiation of hematopoietic progenitor and stem cells. Flt3L has demonstrated a unique capacity to increase the number of circulating dendritic cells in both laboratory and clinical studies. In addition, Flt3L has shown impressive results in models of cancer, infectious diseases and inflammatory/autoimmune diseases. The CD40 ligand (CD40L) has potent immune activation properties through activation of dendritic cells that express the CD40 receptor.

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