Biotechnology Business
Medarex to Receive Milestone Payment from Amgen
Published in Law and Health Weekly, January 5th, 2008
Medarex, Inc. (NASDAQ:MEDX) announced that it will receive a milestone payment for an undisclosed amount from its licensing partner, Amgen, for advancing an antibody into human clinical trials. The antibody was developed using Medarex's UltiMAb(R) technology and is the fifth UltiMAb-derived antibody in clinical development by Amgen, including two UltiMAb antibodies in Phase II clinical studies. Medarex may receive future milestone payments and royalties should this product candidate progress through clinical development and to the market.
"As a leading biotechnology company, Amgen continues to use its product development expertise to move UltiMAb-derived antibodies into...
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