MEDIMMUNE AND MEDAREX ENTER BROAD ANTIBODY AGREEMENT
Gaithersburg, MD and Princeton, NJ, June 13, 2000 -- MedImmune, Inc. (NASDAQ:
MEDI) and Medarex, Inc. (NASDAQ: MEDX) announced today that they have signed an
agreement to develop fully human antibodies to multiple antigens using Medarex's
HuMAb-Mouse(R) technology. Under the terms of the agreement, MedImmune receives
an exclusive, worldwide license for the use of Medarex's HuMAb-Mouse technology
for the development of antibodies against respiratory syncytial virus (RSV) and
an option to further license the use of this technology for additional antigens.
Medarex receives technology access fees and could also receive license and
milestone payments, as well as royalties on product sales.
"We are excited about the opportunity to use Medarex's HuMAb-Mouse technology to
evaluate new antibodies for potential product development," said Dr. Wayne T.
Hockmeyer, MedImmune's chairman and chief executive officer.
"We are extremely pleased to add MedImmune to our growing list of HuMAb-Mouse
partners," said Donald L. Drakeman, Medarex's president and chief executive
officer. "MedImmune's proven product development capabilities are a good match
for our HuMAb-Mouse technology."
Medarex is a biopharmaceutical company developing monoclonal antibody-based
therapeutics to fight cancer and other life-threatening and debilitating
diseases. Medarex has assembled a broad platform of patented technologies for
antibody discovery and development, including the HuMAb-Mouse(R) and TC
Mouse(TM) systems for the creation of high-affinity, fully human antibodies;
T-12 Development(TM) offering the capability of moving from target to trial in
approximately 12 months; and Trans-Phage Technology(TM) combining high
throughput screening with fully human antibody development. Medarex creates and
develops fully human antibodies for itself and others, offering a full range of
antibody development capabilities, including pre-clinical and clinical
manufacturing services. For more information about Medarex visit its web site at
www.medarex.com.
MedImmune, Inc. is a fully integrated biotechnology company focused on
developing and marketing products that address medical needs in areas such as
infectious disease, immune regulation and cancer. Headquartered in Gaithersburg,
Maryland, MedImmune has manufacturing facilities in Frederick, Maryland and
Nijmegen, the Netherlands, and an oncology subsidiary in West Conshohocken,
Pennsylvania.
Except for the historical information presented, certain matters discussed in
this press release are 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. Such risks and uncertainties include risks associated with
product discovery and development as well as risks detailed from time to time in
the companies' public disclosure filings with the U.S. Securities and Exchange
Commission (SEC), including each company's Annual Report on Form 10-K for the
fiscal year ended December 31, 1999. Copies of public disclosure filings with
the Securities and Exchange Commission (SEC) are available from each company's
investor relations department. There can be no assurance that such development
efforts will succeed, that such products will receive required regulatory
clearance or that, even if such regulatory clearance were received, such
products would ultimately achieve commercial success.
SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934, the
registrant has duly caused this report to be signed on its behalf by the
undersigned hereonto duly authorized.
MEDIMMUNE, INC.
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(Registrant)
June 15, 2000 By:
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David M. Mott, Vice Chairman
and Chief Financial Officer
