Medarex Partners Up Again

Medarex and Bristol-Myers Squibb announced a deal today to develop and market MDX-010, a melanoma treatment developed by Medarex. As part of the collaboration, Britsol-Myers will purchase a $25 million stake in Medarex, at a premium to the market and make a $25 million cash payment. The partnership also includes MDX-1379, a vaccine to be developed for possible combined use with MDX-010 in melanoma.

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