Celldex Therapeutics and Ludwig Institute for Cancer Research Announce Cancer Antigen License and Clinical Research Collaboration

Multi-Year Clinical Collaboration To Focus on Series of Tumor-Associated


Oct 23, 2006, 01:00 ET from Celldex Therapeutics, Inc.

    PHILLIPSBURG, N.J., Oct. 23 /PRNewswire/ -- Celldex Therapeutics, Inc.
 and the international Ludwig Institute for Cancer Research (LICR) today
 announced a multi-year clinical research collaboration focusing on a series
 of tumor- associated antigens (TAAs) for use in Celldex's Antigen
 Presenting Cell (APC) Targeting Technology(TM). These antigens, previously
 identified and characterized immunologically by LICR, will add
 substantially to new Celldex development programs for a range of cancer
 types. Three of these antigens (NY-ESO-1, MAGE3, and MelanA) are being
 studied in non-small cell lung, ovarian, and bladder cancers, as well as
 melanoma, in an extended series of Phase I/II programs conducted by the
 LICR and its collaborators.
     The collaboration will encompass the development of next-generation
 immunotherapies using Celldex's proprietary APC targeting monoclonal
 antibodies and the Ludwig TAAs. These development candidates will be
 available to LICR for evaluation within the Cancer Vaccine Collaborative
 (CVC) worldwide clinical research network, a collaboration between the LICR
 and the leading cancer charity, the New York-based Cancer Research
     "The Celldex technology is a novel approach to inducing a patient's
 immune system to fight cancer," said Jonathan C.A. Skipper, Ph.D.,
 Executive Director for Intellectual Property & Technology Licensing at the
 Ludwig Institute. "This system has the potential to deliver TAAs precisely
 to the right cells, in contrast to other TAA delivery technologies. The CVC
 is very much looking forward to exploring this promising TAA delivery
 approach in its early-phase clinic trials."
     "We are pleased to announce this agreement with the Ludwig Institute,
 an acknowledged academic leader in the field of cancer immunotherapy, as a
 key addition to our cancer development programs," said Robert Burns, Ph.D.,
 President and CEO of Celldex Therapeutics. "With the licensing of this
 important portfolio of clinically-validated cancer antigens, we strengthen
 our commitment to developing innovative immunotherapies against a wide
 variety of oncology targets, employing our unique APC targeted delivery
     About the Ludwig Institute for Cancer Research
     The Ludwig Institute for Cancer Research (LICR) is the largest
 international academic institute dedicated to understanding and controlling
 cancer. Headquartered in New York, and with one Center for Clinical
 Sciences and nine Branches in seven countries, the scientific network that
 is LICR spans the globe. LICR has developed an impressive portfolio of
 reagents, knowledge, expertise, and intellectual property, and has also
 assembled the personnel, facilities, and practices necessary to patent,
 clinically evaluate, license, and thus translate, the most promising
 aspects of its own laboratory research into cancer therapies.
     About the Cancer Research Institute
     The Cancer Research Institute (CRI) is a non-profit organization that
 funds research aimed at furthering the development of immunological
 approaches to the diagnosis, treatment, and prevention of cancer. CRI's
 research programs are designed to recognize and support those researchers
 around the world who are focused on this area. Today, CRI provides funding
 at every level of scientific inquiry, from coordinated clinical trials to
 the most basic research, and supports scientists at all career levels.
     About the APC Targeting Technology
     The foundation of Celldex Therapeutics' Antigen Presenting Cell (APC)
 Targeting Technology(TM) is the ability of the Company's proprietary
 antibodies to deliver agents to specific cellular components of the immune
 system. In particular, Celldex has developed antibodies that possess unique
 characteristics for delivering antigens directly to professional APCs,
 dendritic cells and macrophages that we believe will generate rapid and
 heightened immune responses. By effectively targeting antigens (or other
 agents) to these specialized cells of the immune system, Celldex's product
 candidates can transform even weakly immunogenic antigens into effective
 targets for immunotherapy, and circumvent the need for individualized ex
 vivo dendritic cell manipulation.
     About Celldex Therapeutics, Inc.
     Celldex Therapeutics, Inc. is a biotechnology company focused on
 developing fully human antibody-based products that target and stimulate
 the body's immune system for the treatment of cancer, infectious and
 autoimmune diseases. The Company's lead product, CDX-110, is scheduled to
 have entered a definitive Phase 2/3 clinical trial for the treatment of
 newly diagnosed glioblastoma by early 2007. Celldex has three product
 candidates already in or about to enter clinical development targeting
 multiple cancers as well as Hepatitis B. Four additional product candidates
 are in preclinical development for cancer and autoimmune disease. Celldex's
 proprietary technology platform uses fully human monoclonal antibodies
 administered directly to patients to target and stimulate dendritic cells -
 key cells within the immune system. Celldex was formed in 2004 as a
 spin-out from Medarex, Inc (Nasdaq:   MEDX). The Company is headquartered in
 Phillipsburg, New Jersey and also has R&D operations in Cambridge, UK. For
 more information, please visit the website:
 http://www.celldextherapeutics.com .

SOURCE Celldex Therapeutics, Inc.