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news.Medarex, a biopharmaceutical company, has announced that it will receive a milestone payment of an undisclosed amount from its licensing partner, Centocor Ortho Biotech, a wholly-owned subsidiary of Johnson & Johnson, in connection with the marketing approval from Health Canada's Biologics and Genetic Therapies Directorate, to market Simponi as a once-monthly subcutaneous treatment for adults with active forms of rheumatoid arthritis, psoriatic arthritis and ankylosing spondylitis.
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Simponi is a new, human anti-tumor necrosis factor (TNF) monoclonal antibody that was generated by Medarex’s UltiMAb technology that targets and neutralizes both the soluble and membrane-bound forms of TNF-alpha. Regulatory applications seeking marketing authorization for Simponi have also been filed in the US and Europe.
Under the agreement with Centocor Ortho Biotech, Medarex will receive future sales-based royalty payments from the commercial sales of Simponi.
Howard Pien, chairman and CEO of Medarex, said: “Simponi is the second antibody generated from our UltiMAb technology to receive regulatory approval, further demonstrating the potential of our antibody technology platform for generating therapeutics addressing underserved medical needs.”