GAITHERSBURG, Md. and PRINCETON, N.J., Nov. 23 /PRNewswire-FirstCall/ --
MedImmune, Inc. (Nasdaq: MEDI) and Medarex, Inc. (Nasdaq: MEDX) today
announced a collaboration to develop antibodies targeting interferon-alpha and
the type I interferon receptor 1. The collaboration will initially focus on
two antibodies, MDX-1103 and MDX-1333, that are currently in preclinical
development by Medarex for the treatment of autoimmune diseases, such as
systemic lupus erythematosus (SLE or lupus). The companies expect to file
investigational new drug applications with the U.S. Food & Drug Administration
within the next 18 months.
Under the terms of the agreement, Medarex will receive an upfront payment
of $15 million. MedImmune will be fully responsible for the continued
development of the product candidates. Prior to the beginning of pivotal
studies, Medarex may elect to co-develop the products in return for the
opportunity to co-promote and to receive a share of the commercial profits in
the United States. In all other cases, Medarex will be entitled to receive
milestone payments and royalties.
"Severe diseases of the immune system, including lupus, impact the lives
of millions of people worldwide," stated Edward T. Mathers, MedImmune's vice
president of corporate development. "Entering into this collaborative
agreement with Medarex provides another opportunity for MedImmune to expand
its potential offering of treatments for those patients who need more options
as they battle these debilitating diseases."
"We are pleased to work with MedImmune to further the development of these
antibodies as potential treatments for serious diseases," said Donald L.
Drakeman, president and CEO of Medarex.
About MDX-1103 and MDX-1333
MDX-1103 and MDX-1333 are fully human antibodies that are believed to
target interferon-alpha and the type I interferon receptor 1, respectively.
Experimental data suggest that interferon-alpha and the type I interferon
receptor may be involved with lupus disease activity. In preclinical studies,
MDX-1103 has been shown to bind to multiple interferon-alpha subtypes while
MDX-1333 has been shown to block the type I interferon receptor 1.
MedImmune strives to provide better medicines to patients, new medical
options for physicians, rewarding careers to employees, and increased value to
shareholders. Dedicated to advancing science and medicine to help people live
better lives, the company is focused on the areas of infectious diseases,
cancer and inflammatory diseases. With approximately 1,900 employees
worldwide, MedImmune is headquartered in Maryland. For more information, visit
the company's website at http://www.medimmune.com.
Medarex is a biopharmaceutical company focused on the discovery and
development of fully human antibody-based therapeutics to treat life-
threatening and debilitating diseases, including cancer, inflammation,
autoimmune and infectious diseases. Medarex applies its UltiMAb(R) technology
and product development and clinical manufacturing experience to generate,
support and potentially commercialize a broad range of fully human antibody
products for itself and its partners. Twenty of these therapeutic products
derived from Medarex technology are currently in human clinical testing, with
the most advanced product presently in a Phase III clinical trial. Medarex is
committed to building value by developing a diverse pipeline of antibody
products to address the world's unmet healthcare needs. For more information
about Medarex, visit its website at http://www.medarex.com.
Except for the historical information presented herein, matters discussed
herein may constitute forward-looking statements that are subject to certain
risks and uncertainties that could cause actual results to differ materially
from any future results, performance or achievements expressed or implied by
such statements. Statements that are not historical facts, including
statements preceded by, followed by, or that include the words "potential;"
"believe;" "anticipate;" "intend;" "plan;" "expect;" "estimate;" "could;"
"may;" or similar statements are forward-looking statements. Medarex and
MedImmune disclaim, however, any intent or obligation to update these forward-
looking statements. Risks and uncertainties include risks associated with
product discovery and development, uncertainties related to the outcome of
clinical trials, slower than expected rates of patient recruitment, unforeseen
safety issues resulting from the administration of antibody products in
patients, uncertainties associated with the collaborative process,
uncertainties related to product manufacturing as well as risks detailed from
time to time in each company's respective public disclosure filings with the
U.S. Securities and Exchange Commission (SEC), including their respective
Annual Reports on Form 10-K for the fiscal year ended December 31, 2003,
subsequent Quarterly Reports on Form 10-Q and Current Reports on Form 8-K.
There can be no assurance that such development efforts will succeed, that
such products will receive required regulatory approval or that, even if such
regulatory approval were received, such products would ultimately achieve
commercial success. Copies of public disclosure filings for MedImmune or
Medarex are available from the companies' respective investor relations
Medarex(R), the Medarex logo and UltiMAb(R) are registered trademarks of
Medarex, Inc. All rights are reserved.
SOURCE Medarex, Inc.; MedImmune, Inc.
/CONTACT: MedImmune, Inc.: Media: Clarencia Stephen, +1-301-398-4073, or
Investors: Peter Vozzo, +1-301-398-4358, or John Filler, +1-301-398-4086; or
Medarex, Inc.: Media: Jean Mantuano, +1-609-430-2880, x2221 or Investors:
Laura S. Choi, +1-609-430-2880, x2216/
/Company News On-Call: http://www.prnewswire.com/comp/108265.html/
/Web site: http://www.medarex.com
CO: Medarex, Inc.; MedImmune, Inc.
ST: New Jersey, Maryland
IN: HEA MTC BIO
-- PHTU008 --
0266 11/23/2004 08:00 EST http://www.prnewswire.com