Medarex, Boehringer Ingelheim Announce Antibody Development Agreement

Medarex and Boehringer Ingelheim have announced an agreement for the development of fully human therapeutic antibodies.

Boehringer Ingelheim intends to use Medarex's UltiMAb Human Antibody Development System to generate antibodies to disease targets. Financial terms were not disclosed.

Pursuant to the agreement, Boehringer Ingelheim plans to develop and commercialize fully human antibody therapeutics for a variety of diseases, including cancer and inflammatory conditions. Medarex will receive technology access fees and could receive additional license fees and milestone payments as well as royalties on commercial sales of any products that may result from this agreement.