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

To: Icebrg who wrote (834)	6/23/2004 6:16:30 AM
From: nigel bates	Respond to of 2240

Medarex Initiates Phase II Clinical Trial with MDX-070 in Prostate Cancer Wednesday June 23, 6:00 am ET Phase I Clinical Data Showed Positive Safety Results for Fully Human Anti-PSMA Antibody PRINCETON, N.J., June 23 /PRNewswire-FirstCall/ -- Medarex, Inc. (Nasdaq: MEDX - News) today announced the initiation of a multi-dose, dose-escalation Phase II clinical trial of MDX-070, a fully human antibody to prostate specific membrane antigen (PSMA), for patients with hormone refractory prostate cancer. The Phase II clinical trial is expected to enroll up to 30 patients with prostate cancer. Patients are expected to receive four bi-weekly doses of 1, 5 or 10 mg/kg of MDX-070 and will be assessed for tumor response based on objective tumor response and decrease in prostate specific antigen (PSA) serum levels. In the single-dose Phase I clinical study in 18 patients with metastatic prostate cancer, the antibody was well-tolerated, and no serious drug-related adverse events were reported. In addition to developing MDX-070 as a potential single antibody therapeutic agent, Medarex has expanded its MDX-070 program to include a second-generation toxin conjugate program, currently in preclinical development. "We believe that PSMA is an attractive cancer target for potential antibody therapeutics like MDX-070," said Donald L. Drakeman, President and CEO of Medarex. "We have been encouraged by the preclinical and early clinical data and expect to rapidly develop this program for patients in need." About MDX-070 MDX-070 is a fully human antibody that targets PSMA, a cell surface marker that is preferentially expressed on malignant prostate tissues and also on blood vessels in other tumors. Preclinical studies conducted by Medarex suggest that MDX-070 may effectively target and eliminate live prostate tumor cells through immunological pathways that prevent cancer cell proliferation or induce elimination of cancer cells. According to the American Cancer Society, other than skin cancer, prostate cancer is the most common type of cancer found in American men and is the second leading cause of cancer deaths in men, exceeded only by lung cancer. The American Cancer Society estimates that in 2004 there will be about 230,110 new cases of prostate cancer in the United States, and about 29,900 men will die of the disease.

To: Icebrg who wrote (834)	6/25/2004 6:17:53 AM
From: Icebrg	Read Replies (1) \| Respond to of 2240

Medarex Announces Purchase of Ability Biomedical Corporation Friday June 25, 6:00 am ET Strategic Acquisition Strengthens Medarex's Pipeline in Inflammation and Autoimmune Disease With Anti-IP-10 Antibodies PRINCETON, N.J., June 25 /PRNewswire-FirstCall/ -- Medarex, Inc. (Nasdaq: MEDX - News) today announced that it has entered into an agreement to acquire Ability Biomedical Corporation, a privately held Canadian biotechnology company, including Ability Biomedical's intellectual property related to IP-10. IP-10, also known as CXCL10, is a protein believed to be associated with a variety of immune disorders, including multiple sclerosis, rheumatoid arthritis, inflammatory bowel disease, chronic obstructive pulmonary disease and type I diabetes. Medarex is currently investigating MDX- 1100, a fully human antibody that targets IP-10, in preclinical studies and expects to file an Investigational New Drug (IND) application with the FDA for MDX-1100 in the first half of 2005. Under the terms of the agreement, Medarex will acquire Ability Biomedical for approximately $4.7 million (USD) in a combination of cash and/or Medarex stock. Upon the achievement of certain development milestones with respect to Medarex's anti-IP-10 antibody program, but no later than September 4, 2007, Medarex will be required to pay an additional amount of approximately $3.56 million (USD) in cash and/or Medarex stock. In lieu of such additional payment, Medarex also has the option to revert to the original January 2003 joint collaboration agreement with Ability Biomedical. The acquisition is expected to be completed in August 2004. "The acquisition of Ability Biomedical represents a significant milestone for the therapeutic antibody, MDX-1100. We are pleased to have the project in such expert hands," said Hans S. Keirstead, President and CEO of Ability Biomedical Corporation. "We have been pleased with our previous collaboration with Ability Biomedical, and we believe that this acquisition strengthens our position to develop antibody therapeutics to a potentially important target implicated in many inflammation and autoimmune diseases," said Donald L. Drakeman, President and CEO of Medarex. About Ability Biomedical Corporation Ability Biomedical Corporation, a private, venture-sponsored firm focused on chemokine-based therapeutics, was formed in February 2002 with support and financing from GrowthWorks Capital Ltd. (manager of the Working Opportunity Fund). Ability has developed potential treatments for individuals with inflammatory and autoimmune diseases. With locations in Vancouver, BC (Ability Biomedical Corporation) and Irvine, CA (Ability Biomedical (USA) Corporation), the firm has leveraged discoveries made at the University of California, Irvine by Drs. Thomas E. Lane and Hans S. Keirstead.