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

To: Icebrg who wrote (811)	4/26/2004 8:45:10 AM
From: nigel bates	Respond to of 2240

Genmab Licenses Cancer Target from Ganymed COPENHAGEN, Denmark, April 26 /PRNewswire/ -- Genmab A/S (CSE: GEN) and privately held Ganymed Pharmaceuticals AG located in Germany, announced today that Genmab (Copenhagen: GEN.CO) will license Ganymed's GT43 cancer target. The target is expressed on a wide range of tumors, including melanoma, breast cancer, lung cancer, and hepatocellular carcinoma. About the target The GT43 target is expressed on the cell membrane of cancer cells but not on normal tissues of any essential organ and has demonstrated a role in cell signaling. In particular, it is upstream in a signaling pathway involved in cell survival. Laboratory studies have shown that the inhibition of the target resulted in a markedly decreased cell migration. It was also demonstrated that expression of GT43 is strongly correlated with metastasis in patients with breast cancer and non-small cell lung cancer. Under the terms of the agreement, Ganymed will be entitled to license fees, milestones and royalties on the sale of successfully commercialised products. "Ganymed's skill in identifying and validating disease targets has led to the discovery of GT43, a target expressed in a wide variety of cancer cells," said Lisa N. Drakeman, Ph.D., Chief Executive Officer of Genmab. "We are pleased to expand our product portfolio to include this target." "Genmab is well known for its excellence in developing antibody based therapies," said Rainer Wessel, Ph.D., President & Chief Executive Officer of Ganymed. "We are very pleased that we have a first class partner for our GT43 target."

To: Icebrg who wrote (811)	4/28/2004 9:37:45 AM
From: Icebrg	Read Replies (1) \| Respond to of 2240

Medarex Announces Pricing of $150 Million of 2.25% Convertible Senior Note Offering to Refinance 4.50% Convertible Subordinated Notes Due 2006 Wednesday April 28, 7:34 am ET PRINCETON, N.J., April 28 /PRNewswire-FirstCall/ -- Medarex, Inc. (Nasdaq: MEDX - News) announced today that it agreed to privately place $150 million aggregate principal amount of 2.25% Convertible Senior Notes ("Notes") due 2011 to qualified institutional buyers pursuant to Rule 144A under the Securities Act of 1933, as amended. The placement of the Notes is expected to close on May 3, 2004, subject to customary closing conditions. The Notes will bear interest at 2.25% per annum and will be initially convertible at the option of the holder into shares of Medarex Common Stock at the rate of 72.9129 shares per each $1,000 principal amount of Notes, which is equivalent to an initial conversion price of approximately $13.72 per share, subject to anti-dilution adjustments. The initial conversion price represents a 30% premium over the closing sale price on NASDAQ of Medarex Common Stock on April 27, 2004, which was $10.55 per share. Medarex has also granted the initial purchasers of the Notes an option to purchase up to an additional $50 million in aggregate principal amount of the Notes. Medarex intends to use the net proceeds from the offering to purchase or redeem all or a portion of Medarex's outstanding 4.50% Convertible Subordinated Notes due 2006 and any excess for general corporate purposes.