Medarex gets milestone from ImClone for IgG1's accepted Investigational New Drug Application

By E. Janene Geiss

Philadelphia, Jan. 30 - Medarex, Inc. announced Monday that it received a milestone payment from its licensing partner, ImClone Systems Inc., following the acceptance of an Investigational New Drug Application for a fully human IgG1 antibody for the treatment of cancer.

The antibody was developed using Medarex's UltiMAb technology. Medarex may receive future milestone payments and royalties should this product candidate progress through clinical development and to the market, according to a company news release.

"We believe that the advancement of the ImClone Systems' antibody into clinical trials further demonstrates the strength of Medarex's UltiMAb technology," Donald L. Drakeman, president and chief executive officer of Medarex, said in the release.

"With the broadening use of our UltiMAb platform, we expect to see a continual movement of new product candidates into clinical trials that goes beyond the 30 candidates currently in clinical development by us and our partners," Drakeman added.

To date, 30 therapeutic product candidates derived from Medarex technology are in human clinical testing or have had INDs submitted for such trials, with four of the most advanced product candidates currently in phase 3 clinical trials, officials said.

Medarex is a Princeton, N.J., biopharmaceutical company focused on the discovery, development and potential commercialization of fully human antibody-based therapeutics to treat life-threatening and debilitating diseases, including cancer, inflammation, autoimmune disorders and infectious diseases.

Medarex applies its UltiMAb technology and product development and clinical manufacturing experience to generate, support and potentially commercialize a broad range of fully human antibody product candidates for itself and its partners.

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