Date: Jan 10, 2000 Source: (
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Princeton, NJ -- January 10, 2000 -- Medarex, Inc. (Nasdaq: MEDX) announced today the formation of a strategic alliance with Kirin Brewery Co., Ltd. providing for the global commercialization of technology for creating fully human monoclonal antibodies. Under the terms of this alliance, Kirin will pay Medarex $12 Million in up-front fees, plus the potential for additional payments over the term of the alliance.
Key elements of the alliance include the appointment of Kirin as the exclusive distributor of Medarex's HuMAb-Mouse(TM) technology in Asia, and the appointment of Medarex as the exclusive distributor of Kirin's Transchromosomic Mouse outside of Asia. In addition, Medarex and Kirin will exchange broad licenses, subject to milestone and royalty payments, for in-house use of each other's technology for the development of human antibody therapeutic products. The partners will also initiate a research collaboration to create a novel approach for the development of fully human antibodies by combining their proprietary technologies. It is anticipated that this alliance could generate milestone payments from third parties to the partners in excess of $250 million.
Medarex's HuMAb Mice are genetically engineered mice containing human genes for making antibodies. Medarex has used this technology itself and in collaboration with pharmaceutical and biotechnology partners to make high affinity fully human antibodies for therapeutic purposes. Medarex has received numerous patents in the United States and Europe and patent applications have been filed worldwide relating to the creation of fully human antibodies in transgenic mice.
Kirin's new Transchromosomic-Mice (TC Mice) are genetically engineered mice containing 100% of the human genes for making antibodies. In the TC Mice, the mouse genes relating to antibodies have been functionally replaced by the entire human chromosomal loci responsible for making human antibodies.
Medarex and Kirin expect to use the HuMAb Mouse and TC Mouse technologies to develop novel therapeutic products for the treatment of cancer, heart disease, infectious disease, autoimmune disease and other life-threatening and debilitating conditions. Access to both technologies will be offered to pharmaceutical and biotechnology companies, as well as to academic collaborators for the creation of fully human antibodies for therapeutic use.
"We are very pleased to be forming a global alliance with a strong Asian partner like Kirin," said Donald Drakeman President and CEO of Medarex. "We believe that the combination of our HuMAb-Mouse technology with Kirin's Transchromosomic-Mouse technology will provide our partners with the broadest and most efficient platform for producing fully human antibodies."
"We believe that the partnership with Medarex will accelerate Kirin's human antibody business, both internally and with outside partnerships, because we see Medarex as the leading company in the use of transgenic mice for the creation of fully human monoclonal antibodies," said Dr. Koichiro Aramaki, President of the Pharmaceutical Division of Kirin. "We look forward to working with Medarex to bring the HuMAb and TC mice to pharmaceutical and biotechnology companies around the world."
Medarex is a biopharmaceutical company developing monoclonal antibody-based therapeutics to fight cancer and other life-threatening and debilitating diseases. The Company has developed a broad platform of patented technologies for antibody discovery and development, including the HuMAb- Mouse(TM) system for the creation of high-affinity human antibodies; Bispecific antibodies, which enhance and direct the body's own immune system to fight disease; and immunotoxin technology. Medarex has seven products in clinical development for the treatment of cancers and leukemia, autoimmune diseases and ophthalmic conditions. For more information about the company visit its web site at medarex.com.
Kirin is Japan's foremost beer company and the fourth largest in the world by sales volume. The Pharmaceutical Division of Kirin applies its knowledge of biotechnology to the development of advanced pharmaceutical products in the field of renal, cardiovascular, immune systems and allergy-related diseases, cancer, and blood cell production. Kirin's recombinant DNA-based ESPO (erythropoietin) and GRAN (G-CSF), co-developed with Amgen, have annual sales exceeding $300 million in Asia. For more information about the company, visit its website at kirin.co.jp.
Certain statements in this press release consist of forward-looking statements that involve risks and uncertainties including, but not limited to, uncertainties regarding the development of new technology and new clinical products. Actual results, events or performance may differ materially
