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news.Medarex has reported that it will receive a milestone payment from its licensing partner, Centocor, for the submission of regulatory applications requesting approval of ustekinumab in the US and in Europe for the treatment of chronic moderate to severe plaque psoriasis.
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Ustekinumab is a human monoclonal antibody that binds to the cytokines IL-12 and IL-23 and was generated using Medarex’s UltiMAb technology. Medarex may receive future milestone payments and royalties should this product candidate progress to commercialization and achieve commercial sales.
Howard Pien, president and CEO of Medarex, said: “We believe that the ongoing development progress of ustekinumab and other antibody programs generated from Medarex’s UltiMAb platform will continue to highlight the therapeutic importance and value creation opportunities of antibodies and our technology.”