MEDX Horizon Kinetics Medical ETF

Medarex, Inc. (NASDAQ:MEDX) today announced it will receive a milestone payment of an undisclosed amount from Novartis Pharma AG (Novartis), in connection with the marketing approval from the U.S. Food and Drug Administration (FDA), to market Ilaris� (canakinumab, previously known as ACZ885) for the treatment of children as young as four years old and adults with cryopyrin-associated periodic syndrome, or CAPS, a serious life-long auto-inflammatory disease caused by rare genetic mutations.

CAPS comprises three disorders of increasing severity: familial cold auto-inflammatory syndrome (FCAS), Muckle-Wells syndrome (MWS) and neonatal-onset multisystem inflammatory disease (NOMID). A clinical study is ongoing to evaluate the potential of Ilaris� to treat patients with NOMID. In addition to ongoing studies in CAPS, clinical trials are also under way with Ilaris� in systemic juvenile idiopathic arthritis (SJIA), and more common disorders such as some forms of gout, chronic obstructive pulmonary disorder (COPD) and type 2 diabetes.

Ilaris� is a fully human monoclonal antibody generated using Medarex's UltiMAb� technology that rapidly and selectively blocks interleukin-1 beta (IL-1?). Regulatory applications have also been filed in Europe, Switzerland, Australia and other countries. Under the agreement with Novartis, Medarex will receive future sales-based royalty payments from the commercial sales of Ilaris�.

�Ilaris� represents the third antibody generated from our UltiMAb� technology to receive regulatory approval and reinforces the important role of our antibody technology platform in developing new treatment options for unmet medical needs,� said Howard H. Pien, Chairman and CEO of Medarex. �The royalty stream generated from future product sales will provide valuable financial support to advancing our own maturing product pipeline toward commercialization.�

About Medarex

Medarex is a 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, 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. Over forty of these therapeutic product candidates derived from Medarex technology are in human clinical testing or have had INDs submitted for such trials, with the most advanced product candidates currently approved for commercial sale, the subject of regulatory applications for marketing authorization or in Phase 3 clinical trials. Medarex is committed to building value by developing a diverse pipeline of antibody products to address the world�s unmet healthcare needs. For more information about Medarex, visit its website at www.medarex.com.

Medarex Statement on Cautionary Factors

Except for the historical information presented herein, matters discussed herein may constitute forward-looking statements, as defined in the Private Securities Litigation Reform Act of 1995, 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. Statements that are not historical facts, including statements preceded by, followed by, or that include the words �will�; �believe�; �future�; �potential� or similar statements are forward-looking statements. Medarex disclaims, however, any intent or obligation to update these forward-looking statements. Risks and uncertainties include risks associated with the development and commercialization of Ilaris�, as well as risks detailed from time to time in Medarex�s public disclosure filings with the U.S. Securities and Exchange Commission (SEC), including its Annual Report on Form 10-K for the fiscal year ended December 31, 2008 and its quarterly reports on Form 10-Q. There can be no assurance that future milestone payments will be paid or that Ilaris� will be commercially successful. Copies of Medarex�s public disclosure filings are available from its investor relations department.

Medarex�, the Medarex logo and UltiMAb� are registered trademarks of Medarex, Inc. All rights are reserved.

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