Medarex and Northwest Biotherapeutics Announce Alliance To Develop New Cancer Therapies

Apr 25, 2001, 01:00 ET from Medarex, Inc.

    PRINCETON, N.J. and BOTHELL, Wash., April 25 /PRNewswire/ --
 Medarex, Inc. (Nasdaq:   MEDX) and Northwest Biotherapeutics, Inc. (NWBio), a
 privately held company, announced today the formation of a strategic alliance
 in which Medarex expects to generate fully human antibody therapeutics for
 multiple cancers.  Previous collaborative work by the partners has generated
 fully human monoclonal antibodies to one of the alliance's initial targets, an
 antigen associated with prostate cancer.  Results of this development effort
 will be presented today by Dr. Eric Holmes, NWBio's Director of Biomedical
 R&D, at the 43rd Annual American Cancer Society's Science Writer's Seminar in
 Dana Point, California.
     NWBio intends to initially contribute four of its existing cancer related
 targets, and over the next several years, NWBio will contribute
 four additional, yet to be determined, cancer targets to the alliance's fully
 human antibody-based product development efforts.  The two companies plan to
 share pre-clinical and clinical development costs and have the right to
 jointly commercialize any resulting products.  In addition, Medarex is
 purchasing $4.0 million of NWBio's Preferred Stock.  Medarex has also agreed
 to purchase $3.5 million of NWBio's Common Stock in the event NWBio completes
 an initial public offering during the next year and satisfies certain
 additional conditions.
     "Our collaboration with NWBio provides another opportunity to develop
 fully human antibody therapeutics that may be useful in the treatment of a
 variety of cancers," said Donald L. Drakeman, President and CEO of Medarex.
     "We are very pleased to establish this relationship with Medarex to
 develop new cancer therapies based on NWBio's expanding library of proprietary
 cancer specific targets," stated Daniel O. Wilds, President and Chief
 Executive Officer of NWBio.  "We believe Medarex to be the ideal partner to
 rapidly co-develop antibody-based therapies with the potential to have a
 positive impact on the 1.2 million new cases of cancer being diagnosed each
 year in the U.S."
 
     Northwest Biotherapeutics, Inc. is a privately held company founded in
 1996 to develop and commercialize products and services to improve care for
 cancer patients.  In addition to developing fully human antibody-based cancer
 treatments with Medarex, NWBio is applying its proprietary dendritic
 cell-based immunotherapy platform, DCVax(TM), to safely use a patient's own
 immune system to fight cancer.  NWBio's first product, DCVax - Prostate, is
 currently in clinical evaluation at M.D. Anderson, Houston and U.C.L.A. as a
 treatment for late-stage prostate cancer patients with no other treatment
 options.  For more information about Northwest Biotherapeutics, visit its
 website at http://www.nwbio.com .
 
     Medarex, Inc. is a biopharmaceutical company developing monoclonal
 antibody-based therapeutics to fight cancer and other life-threatening and
 debilitating diseases.  Medarex has assembled a broad platform of patented
 technologies for antibody discovery and development, including the UltiMab(TM)
 Human Antibody Development System(SM) for the creation of high-affinity, fully
 human antibodies; T-12 Development(SM) offering the potential to move from
 target to trial in approximately 12 months; and Trans-Phage Technology(SM)
 combining high throughput screening with fully human antibody development.
 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 in this press release are 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.  Medarex disclaims, however, any
 intent or obligations to update these forward-looking statements.  Statements
 that are not historical facts, including statements preceded by, followed by,
 or that include the words "believes"; "anticipates"; "intends"; "plans";
 "expects"; "estimates"; or similar statements are forward-looking statements.
 Risks and uncertainties include risks associated with product discovery and
 development 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, 2000 and subsequent Quarterly Reports on Form 10-Q.  Copies of
 Medarex's public disclosure filings are available from its investor relations
 department.  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.
 
     UltiMAb(TM) is a trademark of Medarex, Inc.  Human Antibody Development
 System(SM), T-12 Development(SM) and Trans-Phage Technology(SM) are service
 marks of Medarex, Inc.
     DCVax(TM) is a trademark of Northwest Biotherapeutics, Inc.
 
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                http://tbutton.prnewswire.com/prn/11690X94345633
 
 

SOURCE Medarex, Inc.
    PRINCETON, N.J. and BOTHELL, Wash., April 25 /PRNewswire/ --
 Medarex, Inc. (Nasdaq:   MEDX) and Northwest Biotherapeutics, Inc. (NWBio), a
 privately held company, announced today the formation of a strategic alliance
 in which Medarex expects to generate fully human antibody therapeutics for
 multiple cancers.  Previous collaborative work by the partners has generated
 fully human monoclonal antibodies to one of the alliance's initial targets, an
 antigen associated with prostate cancer.  Results of this development effort
 will be presented today by Dr. Eric Holmes, NWBio's Director of Biomedical
 R&D, at the 43rd Annual American Cancer Society's Science Writer's Seminar in
 Dana Point, California.
     NWBio intends to initially contribute four of its existing cancer related
 targets, and over the next several years, NWBio will contribute
 four additional, yet to be determined, cancer targets to the alliance's fully
 human antibody-based product development efforts.  The two companies plan to
 share pre-clinical and clinical development costs and have the right to
 jointly commercialize any resulting products.  In addition, Medarex is
 purchasing $4.0 million of NWBio's Preferred Stock.  Medarex has also agreed
 to purchase $3.5 million of NWBio's Common Stock in the event NWBio completes
 an initial public offering during the next year and satisfies certain
 additional conditions.
     "Our collaboration with NWBio provides another opportunity to develop
 fully human antibody therapeutics that may be useful in the treatment of a
 variety of cancers," said Donald L. Drakeman, President and CEO of Medarex.
     "We are very pleased to establish this relationship with Medarex to
 develop new cancer therapies based on NWBio's expanding library of proprietary
 cancer specific targets," stated Daniel O. Wilds, President and Chief
 Executive Officer of NWBio.  "We believe Medarex to be the ideal partner to
 rapidly co-develop antibody-based therapies with the potential to have a
 positive impact on the 1.2 million new cases of cancer being diagnosed each
 year in the U.S."
 
     Northwest Biotherapeutics, Inc. is a privately held company founded in
 1996 to develop and commercialize products and services to improve care for
 cancer patients.  In addition to developing fully human antibody-based cancer
 treatments with Medarex, NWBio is applying its proprietary dendritic
 cell-based immunotherapy platform, DCVax(TM), to safely use a patient's own
 immune system to fight cancer.  NWBio's first product, DCVax - Prostate, is
 currently in clinical evaluation at M.D. Anderson, Houston and U.C.L.A. as a
 treatment for late-stage prostate cancer patients with no other treatment
 options.  For more information about Northwest Biotherapeutics, visit its
 website at http://www.nwbio.com .
 
     Medarex, Inc. is a biopharmaceutical company developing monoclonal
 antibody-based therapeutics to fight cancer and other life-threatening and
 debilitating diseases.  Medarex has assembled a broad platform of patented
 technologies for antibody discovery and development, including the UltiMab(TM)
 Human Antibody Development System(SM) for the creation of high-affinity, fully
 human antibodies; T-12 Development(SM) offering the potential to move from
 target to trial in approximately 12 months; and Trans-Phage Technology(SM)
 combining high throughput screening with fully human antibody development.
 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 in this press release are 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.  Medarex disclaims, however, any
 intent or obligations to update these forward-looking statements.  Statements
 that are not historical facts, including statements preceded by, followed by,
 or that include the words "believes"; "anticipates"; "intends"; "plans";
 "expects"; "estimates"; or similar statements are forward-looking statements.
 Risks and uncertainties include risks associated with product discovery and
 development 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, 2000 and subsequent Quarterly Reports on Form 10-Q.  Copies of
 Medarex's public disclosure filings are available from its investor relations
 department.  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.
 
     UltiMAb(TM) is a trademark of Medarex, Inc.  Human Antibody Development
 System(SM), T-12 Development(SM) and Trans-Phage Technology(SM) are service
 marks of Medarex, Inc.
     DCVax(TM) is a trademark of Northwest Biotherapeutics, Inc.
 
                     MAKE YOUR OPINION COUNT -  Click Here
                http://tbutton.prnewswire.com/prn/11690X94345633
 
 SOURCE  Medarex, Inc.