PRINCETON, NJ (January 18,2005) — Medarex, Inc., a biopharmaceutical company, and PharmAthene, Inc., a privately held biotechnology company, have entered into a collaboration agreement to develop and commercialize MDX-1303, a fully human monoclonal antibody targeting the Bacillus anthracis protective antigen.
MDX-1303 was developed by Medarex using its UltiMAb Human Antibody Development System, and this antibody is currently in preclinical development by Medarex for use against human anthrax infection.
Under the terms of the agreement, Medarex and PharmAthene have agreed to jointly continue to investigate the potential for MDX-1303 to be used as a therapeutic for individuals with active disease as well as for prophylactic treatment of individuals exposed to anthrax.
Medarex will receive an initial payment from PharmAthene which will be used to fund development activities already underway for MDX-1303. PharmAthene will be fully responsible for funding all future research and development activities that are not supported by government funds. The companies will share profits according to a pre-agreed allocation percentage. The specific financial terms of the agreement have not been disclosed.