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news.Medarex has received a milestone payment of an undisclosed amount from its licensing partner, Centocor R&D for the acceptance of an investigational new drug application to the FDA for an undisclosed antibody.
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The antibody was generated by Medarex’s UltiMAb Human Antibody Development System. 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 are excited about the development of new antibodies generated by Medarex’s UltiMAb technology platform. The advancement of this antibody into the clinical trial process further enhances our financial assets that consist of the antibodies being developed through our collaborations.”