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Biotech / Medical : MEDX ... anybody following? -- Ignore unavailable to you. Want to Upgrade?

To: Icebrg who wrote (689)	6/20/2003 5:54:01 PM
From: keokalani'nui	Read Replies (1) \| Respond to of 2240

BOTHELL, Wash., June 20 /PRNewswire-FirstCall/ -- Northwest Biotherapeutics, Inc. (OTC Bulletin Board: NWBT.OB - News) today announced the cash sale of certain future royalty rights to Medarex, Inc. and the implementation of additional measures to conserve capital. Under the terms of its agreement with Medarex, the Company has granted Medarex the right to receive any future royalties from products derived from a certain identified antibody target. In exchange for these future royalties, Medarex will pay the Company $816,000. (snip) __________ __________ Previously, as part of the nwbt denoument, medx acquired nwbt's rights to pmsa and 3 unspecified antigens.

To: Icebrg who wrote (689)	6/23/2003 1:29:42 PM
From: keokalani'nui	Read Replies (1) \| Respond to of 2240

I dunno, maybe I'm old fashioned, but I do not like the way either medx or genmab discloses its interest in the IL-15 program. Within its pipeline chart and under the heading “Outlicensed products in the Clinic” Medarex highlights IL-15 Mab. But if you follow the footnote, you find the license was actually a contribution to GenMab in exchange for stock—no medx proprietary interest remains, no royalties not milestones zip! GenMab’s own annual report describes the anti-IL-15 program as a collaboration (!) with Amgen. Some collaboration. GenMab is responsible for all development through P2 after which amgn has an option to take over the product and develop it starting with P3. In 2001 the Company entered into an agreement with Immunex Corporation (“Immunex”) for the exclusive worldwide rights to Immunex’s patent estate relating to antibodies towards IL15 and IL15r. Immunex retains an option exercisable after Phase II clinical trials have been completed, to commercialize the resulting product. Upon exercise of the option, Immunex would be obligated to pay to the Company license fees, milestone payments as well as be obligated to share future profits with the Company. Immunex would also be responsible for all future development costs. Subsequent to signing the agreement, Immunex was acquired by Amgen, who has succeded in the rights and obligations under this agreement. (Same deal for GenMab HumMax-lymphoma Mab.)

To: Icebrg who wrote (689)	7/1/2003 2:56:56 AM
From: Icebrg	Read Replies (1) \| Respond to of 2240

AMGEN EXERCISES COMMERCIAL OPTION TO GENMAB’S HUMAX-IL15 [Some good news from Denmark. Even if Medarex don't have any direct interest in the molecule, the value of their equity stake should be boosted. And down the road they - if the development succeeds - will see improved results from the part of Genmab's profit they show on their own books]. Collaboration Expands to Include New Target Summary: Genmab announced today that Amgen has exercised its commercialization options for both the HuMax-IL15 antibody program and the IL15 receptor program. In addition, Amgen has expanded its agreement with Genmab to include a new antibody program on an additional disease target. Copenhagen, Denmark; July 1, 2003 – Genmab A/S (CSE: GEN) announced today that Amgen has exercised its commercialization options for both the HuMax-IL15 antibody program and the IL15 receptor program. In addition, Amgen has expanded its agreement with Genmab to include a new antibody program on an additional disease target. Under the terms of the expanded and amended agreement, if products to all three targets are successfully commercialized and certain sales levels are achieved, Genmab will be entitled to receive up to USD135.5 Million in license fees and milestone payments. Genmab is also entitled to royalties on commercial sales instead of the profit sharing designated in the original agreement. In connection with the option exercise, Genmab received the first milestone payment of USD10 Million for products targeting the IL15 pathway. Amgen will be responsible for all future development costs for products targeting the IL15 pathway and Genmab will participate in the pre-clinical development of the new program. “We are pleased that Amgen has exercised its commercialization option ahead of schedule, prior to the receipt of the Phase II data. Amgen obviously has considerable resources and expertise to apply to the ongoing development of HuMax-IL15.” said Lisa N. Drakeman, Ph.D., Chief Executive Officer of Genmab. “Furthermore, we believe the addition of a new program to the collaboration gives us the opportunity to expand our portfolio and revenue potential.” “HuMax-IL15 is an interesting product with the potential to treat a variety of inflammation diseases,” said Roger M. Perlmutter, M.D., Ph.D., Executive Vice President, Research and Development of Amgen. “We are looking forward to continuing to work with Genmab in our expanded agreement.” Genmab has been developing HuMax-IL15 for the treatment of inflammatory diseases.