Medarex's fully human antibodies expected to be used as novel drugs for Human Genome Sciences
Medarex, Inc. and Human Genome Sciences, Inc. recently announced that they have entered an agreement whereby the parties intend to use Medarex's technology to create fully human antibodies for commercialization by Human Genome Sciences. Under the agreement Human Genome Sciences has an option to exclusively license therapeutic and diagnostic antibody products resulting from the collaboration. Medarex is entitled to receive license fees, milestone payments and royalties on commercial sales of any products that result from the collaboration.
Medarex intends to use its Human Antibody Development System called UltiMAb to create antibody leads that are specific for target proteins that have been discovered by Human Genome Sciences. Human Genome Sciences plans to select and manufacture the potential drug and diagnostic antibody products.
William Haseltine, PhD, Chairman and Chief Executive Officer of Human Genome Sciences, said, "We are excited about the collaboration with Medarex. The combination of our knowledge of novel human proteins that are found on the surface of cells and that exist as secreted proteins combined with Medarex's ability to create fully human antibodies should allow us to discover new drugs to diagnose as well as treat and cure diseases. We believe these antibodies hold great promise for patients in need."
Donald Drakeman, PhD, President and Chief Executive Officer of Medarex, said, "We are enthusiastic about our new collaboration with Human Genome Sciences. The combination of both companies' technologies offers exciting possibilities to address many unmet medical needs. We believe that this collaboration is continued affirmation of Medarex's expertise in developing fully human antibodies through our UltiMAb system, and we value Human Genome Sciences' confidence in our capabilities."
Medarex, Inc., 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 UltiMAb Human Antibody Development SystemSM for the creation of high-affinity, fully human antibodies; T-12 DevelopmentSM offering the potential to move from target to trial in approximately 12 months; and Trans-Phage Technology 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 related capabilities, including pre-clinical and clinical development supported by cGMP manufacturing services. For more information about Medarex, visit its website at www.medarex.com .
Source: Medarex