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news.Medarex Inc. has received a milestone payment from licensing partner ImClone Systems, after the FDA authorized a clinical trial for its human antibody that targets platelet-derived growth factor receptor alpha for the treatment of cancer.
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The antibody product, IMC-3G3, was developed using Medarex’s UltiMAb technology and is the second UltiMAb-derived antibody in clinical development by ImClone Systems. US-based Medarex said that the company may receive future milestone payments and royalties should this product candidate progress through clinical development and to the market.
The phase I clinical trial is currently underway and is designed to establish and evaluate the safety profile, pharmacokinetics and pharmacodynamics of IMC-3G3 administered weekly by intravenous infusion. The study is expected to enroll 30 to 40 patients with solid tumors at two clinical sites in the US.
Irwin Lerner, chairman, interim president and CEO of Medarex, said: “We are pleased with the steady progress our partner, ImClone Systems, continues to make with Medarex’s UltiMAb technology.”