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Medarex and PacMab Announce Therapeutic Antibody Co-Development Agreement

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Medarex, Inc. and PacMab Limited have entered into a collaborative agreement to develop monoclonal antibody-based therapies for blood cancers.

Beginning in 2007, the companies plan to undertake clinical trials for an existing antibody therapeutic for cancer developed by PacMab.

Through a collaborative development program, the companies intend to use Medarex's UltiMAb Human Antibody Development System® to generate fully human antibodies for novel disease targets.

Under the terms of the agreement, Medarex and PacMab plan to share product development and commercialization responsibilities on any antibody products resulting from this collaboration.

PacMab Chief Executive Officer, Alan Liddle said, "We are very pleased to have formed a strategic commercial and clinical relationship with Medarex to exploit our antibody intellectual property in the oncology area."

"Initially we will focus on the most prevalent form of multiple myeloma, a serious blood cancer," Mr. Liddle said.

"At the same time, we will be developing our pipeline of additional drug therapies using our monoclonal antibody technology aimed at other blood disorders with unmet clinical needs."

"This new partnership with PacMab provides us with an opportunity to further expand our portfolio of oncology-based antibody product candidates," said Irwin Lerner, Chairman of the Board of Directors and Interim President and CEO of Medarex.

"We look forward to combining our antibody development experience with that of PacMab's scientists."