PRINCETON, N.J. and MUNICH, Germany, Jan. 20 /PRNewswire-FirstCall/ -- Medarex, Inc. and Xerion Pharmaceuticals AG, a privately held company, have entered into a collaborative agreement under which the two companies plan to develop fully human therapeutic antibody products. Under the terms of the agreement, Xerion plans to contribute disease associated targets identified through its Xstream(R) technology, and Medarex expects to generate fully human antibody product candidates against these targets using its UltiMAb Human Antibody Development System(R). Both companies agreed to share equally the costs and responsibilities of resulting product development and intend to jointly commercialize any antibody products emanating from this collaboration.
"We are excited that Medarex, a major player in the human antibody field, chose to partner with Xerion and to access our unique technologies for target identification and characterization for use with their well-known fully human antibody technology. We are pleased about the prospect of co-developing and commercializing any resulting antibody products with Medarex in this strategic interaction," said Markus Ewert, President and CEO of Xerion.
"We believe that the combination of Xerion's impressive Xstream platform and our UltiMAb(TM) technology has the potential to result in novel therapeutics, and we look forward to working with Xerion in this endeavor," said Donald L. Drakeman, President and CEO of Medarex.
Medarex is a biopharmaceutical company focused on the discovery and development of therapeutics to treat life-threatening and debilitating diseases. Medarex's UltiMAb Human Antibody Development System(R) is a unique combination of human antibody technologies that Medarex believes enables the rapid creation and development of fully human antibodies to a wide range of potential disease targets for therapeutic antibody products, including products for the treatment of cancer, inflammation, autoimmune and infectious diseases. Medarex's product pipeline is based on a variety of therapeutic antibody products developed through the use of its UltiMAb(TM) technology. Medarex creates and develops fully human antibodies for itself and others, offering a full range of antibody related capabilities, including pre-clinical and clinical development supported by cGMP manufacturing services. For more information about Medarex, visit its website at http://www.medarex.com/.
For Medarex: Except for the historical information presented herein, matters discussed herein may constitute forward-looking statements that are subject to certain risks and uncertainties that could cause actual results to differ materially from any future results, performance or achievements expressed or implied by such statements. Statements that are not historical facts, including statements preceded by, followed by, or that include the words "potential;" "believe;" "anticipate;" "intend;" "plan;" "expect;" "estimate;" "could;" "may;" or similar statements are forward-looking statements. Medarex disclaims, however, any intent or obligation to update these forward-looking statements. Risks and uncertainties include risks associated with product discovery and development, uncertainties related to the outcome of clinical trials, slower than expected rates of patient recruitment, unforeseen safety issues resulting from the administration of antibody products in patients, uncertainties associated with the collaborative process as well as risks detailed from time to time in Medarex's public disclosure filings with the U.S. Securities and Exchange Commission (SEC), including its Annual Report on Form 10-K for the fiscal year ended December 31, 2002 and subsequent Quarterly Reports on Form 10-Q. There can be no assurance that such development efforts will succeed, that such products will receive required regulatory clearance or that, even if such regulatory clearance were received, such products would ultimately achieve commercial success. Copies of Medarex's public disclosure filings are available from its investor relations department.
About Xerion Pharmaceuticals
Xerion Pharmaceuticals is building a pipeline of novel therapeutic targets and antibodies in the indications of cancer and immunological disorders. To identify targets, Xerion solely focuses on proteins, using proprietary Xstream(R) technology to selectively block their function in diseased cells thereby mimicking the activity of a drug. Xerion integrates this approach with the ability to rapidly generate therapeutic antibody leads. Xerion is applying its technologies and developing these targets and antibodies independently and in conjunction with its partners. For additional information, please visit Xerion's Website at http://www.xerion-pharma.com/.
Xerion is headquartered in Munich, Germany and its subsidiary Xerion Pharmaceuticals Inc. is based in Cambridge, MA, U.S.A.
Medarex(R), the Medarex logo, UltiMAb(TM) and UltiMAb Human Antibody Development System(R) are trademarks of Medarex, Inc. All rights are reserved.
Xerion(R) and Xstream(R) are trademarks of Xerion Pharmaceuticals AG. All rights are reserved.
CONTACT: Medarex Incorporated: Laura S. Choi, Investor Relations,+1-609-430-2880, x2216; or Jean Mantuano, Corporate Communications (media),+1-609-430-2880, x2221; Xerion Pharmaceuticals: Markus Ewert, Chief ExecutiveOfficer, +49-89-86 307-0, E-mail: email@example.com; or Yukari Y.Perrella, President USA, +1-617-621-7123, E-mail:firstname.lastname@example.org