Medarex says to receive milestone payment from Amgen

martedì 18 dicembre 2007 12:14

Dec 18 (Reuters) - Medarex Inc MEDX.O said it will receive a milestone payment for an undisclosed amount from its licensing partner Amgen Inc (AMGN.O: Quotazione) for advancing an antibody into human clinical trials.

The antibody was developed using Medarex's UltiMAb technology, the biotechnology company said in a statement.

The company said it may receive future milestone payments and royalties if the antibody progresses through clinical trials and is launched in the market. (Reporting by Avishek Mishra in Bangalore; Editing by Deepak Kannan)