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news.Biopharmaceutical company Medarex said that it expects to receive an undisclosed milestone payment from licensing partner Amgen for the advancement of an antibody into a phase II clinical trial.
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The antibody was generated using Medarex’s UltiMAb technology and is the second UltiMAb-derived antibody to be advanced into phase II clinical development by Amgen. Medarex may receive future milestone payments and royalties should this product candidate progress through clinical development and achieve commercial sales. Two additional UltiMAb antibodies are in phase I development by Amgen.
Chairman and interim CEO, Irwin Lerner, said: “We are extremely pleased by this next step in clinical development, and we look forward to continued progress by Amgen as they advance the development of fully human antibody therapeutics generated by our UltiMAb technology.”