December 18, 2007 / 11:18 AM / 11 years ago

Medarex says to receive milestone payment from Amgen

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) 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)

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