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{{short description|American biopharmaceutical company}}
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'''Medarex''' (former NASDAQ symbol: '''MEDX''' ) was an [[United States|American]] [[biopharmaceutical]] company based in [[Princeton, New Jersey|Princeton]], [[New Jersey]], with manufacturing facilities in [[Bloomsbury, New Jersey|Bloomsbury]] and [[Annandale, New Jersey|Annandale]], New Jersey, and research facilities in [[Milpitas, California|Milpitas]] and [[Sunnyvale, California|Sunnyvale]], [[California]]. In 2009, Medarex was purchased by [[Bristol Myers Squibb]].
{{Infobox company
| name = Medarex
| industry = [[Biopharmaceutical]]
| fate = Acquired by [[Bristol Myers Squibb]]
| founded = {{Start date and age|1987}}
| founder = Dr. Michael W. Fanger <br />Dr. Paul M. Guyre <br />Dr. Edward D. Ball
| defunct = {{End date and age|2009}}
| hq_location = [[Princeton, New Jersey]], [[United States|US]].
| parent = Bristol Myers Squibb
}}


⚫
'''Medarex''' (former NASDAQ symbol: '''MEDX''' ) was an American [[biopharmaceutical]] company based in [[Princeton, New Jersey|Princeton]], [[New Jersey]], with manufacturing facilities in [[Bloomsbury, New Jersey|Bloomsbury]] and [[Annandale, New Jersey|Annandale]], New Jersey, and research facilities in [[Milpitas, California|Milpitas]] and [[Sunnyvale, California|Sunnyvale]], [[California]]. In 2009, Medarex was purchased by [[Bristol Myers Squibb]].
⚫
Medarex developed [[monoclonal antibodies]] to [[CTLA-4]] and [[PD-1]], which are proteins on the surface of [[T cells]]. T cells attack cancer cells, but CTLA-4 and PD-1 act as "brakes" on the T cell's anti-cancer activities. The monoclonal antibodies bind to these proteins and block them, releasing the T cell to attack cancer cells.<ref name="Science">[http://www.sciencemag.org/content/342/6165/1432.full Breakthrough of the Year: Cancer Immunotherapy], Science 20 December 2013, Vol. 342 no. 6165 pp. 1432-1433, DOI: 10.1126/science.342.6165.1432, Jennifer Couzin-Frankel</ref><ref>{{ClinicalTrialsGov|NCT00094653}}</ref>


⚫
Medarex developed [[monoclonal antibodies]] to [[CTLA-4]] and [[PD-1]], which are proteins on the surface of [[T cells]]. T cells attack cancer cells, but CTLA-4 and PD-1 act as "brakes" on the T cell's anti-cancer activities. The monoclonal antibodies bind to these proteins and block them, releasing the T cell to attack cancer cells.<ref name="Science">[https://www.science.org/doi/full/10.1126/science.342.6165.1432 Breakthrough of the Year: Cancer Immunotherapy], Science 20 December 2013, Vol. 342 no. 6165 pp. 1432-1433, DOI: 10.1126/science.342.6165.1432, Jennifer Couzin-Frankel</ref><ref>{{ClinicalTrialsGov|NCT00094653|MDX-010 Antibody, MDX-1379 Melanoma Vaccine, or MDX-010/MDX-1379 Combination Treatment for Patients With Unresectable or Metastatic Melanoma}}</ref>
⚫
Several monoclonal antibodies developed by Medarex have been approved for disease therapy. In 2009, the U.S. [[Food and Drug Administration]] approved [[Simponi]], a human monoclonal antibody to [[tumor necrosis factor alpha]] co-developed with [[Johnson & Johnson]]'s [[Janssen Biotech]], for treatment of arthritis.<ref>{{cite web|url=http://www.businessweek.com/stories/2009-05-04/marcial-medarex-a-bright-spot-in-biotechbusinessweek-business-news-stock-market-and-financial-advice|title=Marcial: Medarex, a Bright Spot in Biotech|last=Marcial|first=Gene|website=businessweek.com|date=4 May 2009|accessdate= 24 Sep 2014}}</ref>

⚫
Several monoclonal antibodies developed by Medarex have been approved for disease therapy. In 2009, the U.S. [[Food and Drug Administration]] approved [[Simponi]], a human monoclonal antibody to [[tumor necrosis factor alpha]] co-developed with [[Johnson & Johnson]]'s [[Janssen Biotech]], for treatment of arthritis.<ref>{{cite web|url=http://www.businessweek.com/stories/2009-05-04/marcial-medarex-a-bright-spot-in-biotechbusinessweek-business-news-stock-market-and-financial-advice|archive-url=https://archive.today/20140925013507/http://www.businessweek.com/stories/2009-05-04/marcial-medarex-a-bright-spot-in-biotechbusinessweek-business-news-stock-market-and-financial-advice|url-status=dead|archive-date=September 25, 2014|title=Marcial: Medarex, a Bright Spot in Biotech|last=Marcial|first=Gene|website=businessweek.com|date=4 May 2009|access-date= 24 Sep 2014}}</ref>
In 2011, the U.S. FDA approved [[ipilimumab]], a monoclonal antibody to CTLA-4, for treatment of metastatic melanoma.<ref name="Science"/>
In 2011, the U.S. FDA approved [[ipilimumab]], a monoclonal antibody to CTLA-4, for treatment of metastatic melanoma.<ref name="Science"/>
In 2014, the U.S. FDA approved [[nivolumab]], a monoclonal antibody to PD-1, for treatment of advanced melanoma.<ref>http://news.bms.com/press-release/bristol-myers-squibb-receives-accelerated-approval-opdivo-nivolumab-us-food-and-drug-a</ref> Its use was expanded to the treatment of [[Squamous-cell carcinoma|squamous]] [[non-small-cell lung carcinoma]] in 2015.<ref>http://www.esmo.org/Oncology-News/FDA-Expands-Approved-Use-of-Nivolumab-to-Squamous-NSCLC</ref>
In 2014, the U.S. FDA approved [[nivolumab]], a monoclonal antibody to PD-1, for treatment of advanced melanoma.<ref>{{cite web|url=https://news.bms.com/press-release/bristol-myers-squibb-receives-accelerated-approval-opdivo-nivolumab-us-food-and-drug-a|title=Bristol-Myers Squibb Receives Accelerated Approval of Opdivo (nivolumab) from the U.S. Food and Drug Administration - BMS Newsroom|website=news.bms.com}}</ref> Its use was expanded to the treatment of [[Squamous-cell carcinoma|squamous]] [[non-small-cell lung carcinoma]] in 2015.<ref>{{cite web|url=https://www.esmo.org/Oncology-News/FDA-Expands-Approved-Use-of-Nivolumab-to-Squamous-NSCLC|title=FDA Expands Approved Use of Nivolumab to Squamous NSCLC - ESMO|website=www.esmo.org}}</ref>

Medarex developed some of the first transgenic mice with humanized immune systems, in order to generate fully human antibodies.<ref>{{Cite news|last=Pierson|first=Ransdell|date=2009-07-23|title=Bristol-Myers to buy Medarex for $2.4 billion|language=en|work=Reuters|url=https://www.reuters.com/article/us-bristolmyers-idUSTRE56M07120090723|access-date=2021-04-14}}</ref> Many of the on-market monoclonal antibodies have been derived from this platform.<ref>{{Cite web|last=Booth|first=Bruce|title=Human Antibody Discovery: Of Mice And Phage|url=https://www.forbes.com/sites/brucebooth/2017/05/11/human-antibody-discovery-of-mice-and-phage/|access-date=2021-04-14|website=Forbes|language=en}}</ref>


==History==
==History==


Medarex was founded in 1987 by a group of immunologists at [[Dartmouth Medical School]]—Dr. Michael W. Fanger, Dr. Paul M. Guyre, and Dr. Edward D. Ball — who partnered with [[Donald L. Drakeman]] and Charles Schaller of Essex Chemical Company, through its venture capital arm Essex Vencap. Drakeman, a [[Dartmouth College|Dartmouth]] graduate, brought the parties together and served as the company's chief executive officer. The company went public in 1991, with 2,300,000 shares of common stock at $6.10 per share and 2,250,000 Redeemable Warrants offered at its IPO.<ref>{{cite web|url=http://www.pharmamedtechbi.com/deals/199130138|title=Medarex raises $12.9M in IPO for R&D of Biospecific|date=1 May 1991|accessdate=24 Sep 2014}}</ref>
Medarex was founded in 1987 by a group of immunologists at [[Dartmouth Medical School]]—Dr. Michael W. Fanger, Dr. Paul M. Guyre, and Dr. Edward D. Ball — who partnered with [[Donald L. Drakeman]] and Charles Schaller of Essex Chemical Company, through its venture capital arm Essex Vencap.{{Citation needed|date=August 2020}}

The company's second president and CEO was Howard H. Pien, succeeding Drakeman in 2007.<ref>{{cite web|url=http://www.princetoninfo.com/index.php/component/us1more/?key=05-23-2007_f_01|title=Life in the Fast Lane: New at Medarex|website=http://www.pharmamedtechbi.com/|date=23 May 2007|accessdate=24 Sep 2014}}</ref>
Drakeman, a [[Dartmouth College|Dartmouth]] graduate, brought the parties together and served as the company's chief executive officer. The company went public in 1991, with 2,300,000 shares of common stock at $6.10 per share and 2,250,000 Redeemable Warrants offered at its IPO.<ref>{{cite web|url=http://www.pharmamedtechbi.com/deals/199130138|title=Medarex raises $12.9M in IPO for R&D of Biospecific|date=1 May 1991|access-date=24 Sep 2014}}</ref> The company's second president and CEO was Howard H. Pien, succeeding Drakeman in 2007.<ref>{{cite web | url=http://www.princetoninfo.com/index.php/component/us1more/?key=05-23-2007_f_01 | title=Life in the Fast Lane: New at Medarex | date=23 May 2007 | access-date=24 Sep 2014 | website=pharmamedtechbi.com}}</ref> [[Genmab]] was founded as a European spin-off of American Biotech company Medarex in February 1999.<ref>{{Cite web|title=Final tally on Genmab IPO reaches $582M|url=https://www.bioworld.com/articles/343317-final-tally-on-genmab-ipo-reaches-582m?v=preview|access-date=2020-09-10|website=www.bioworld.com|language=en}}</ref>
[[Genmab]] was founded as a European spin-off of American Biotech company Medarex in February 1999.


The company was acquired by Bristol Myers Squibb in 2009 for $2.4B, which included $300M in debt, making the payment to Medarex $2.1B.<ref>Allison M. Bristol-Myers Squibb swallows last of antibody pioneers. Nat Biotechnol. 2009 Sep;27(9):781-3. doi: 10.1038/nbt0909-781. PMID 19741612</ref><ref>Dealbook Blog, New York Times. July 23, 2009 [https://dealbook.nytimes.com/2009/07/23/bristol-myers-to-buy-medarex-for-24-billion/ Bristol-Myers to Buy Medarex For $2.4 Billion]</ref><ref>John Carroll for FierceBiotech Jul 23, 2009 [http://www.fiercebiotech.com/biotech/bristol-myers-to-buy-medarex-for-2-1b Bristol-Myers to buy Medarex for $2.1B]</ref>
The company was acquired by Bristol Myers Squibb in 2009 for $2.4 billion, which included $300 million in debt, making the payment to Medarex $2.1 billion.<ref>Dealbook Blog, New York Times. July 23, 2009 [https://dealbook.nytimes.com/2009/07/23/bristol-myers-to-buy-medarex-for-24-billion/ Bristol-Myers to Buy Medarex For $2.4 Billion]</ref><ref>John Carroll for FierceBiotech Jul 23, 2009 [http://www.fiercebiotech.com/biotech/bristol-myers-to-buy-medarex-for-2-1b Bristol-Myers to buy Medarex for $2.1B]</ref>


==References==
==References==
Line 19: Line 33:


== External links ==
== External links ==
* [http://www.medarex.com/ medarex.com] Corporate website
* [https://www.bms.com/ medarex.com is now BMS.com] Corporate website


[[Category:Companies formerly listed on NASDAQ]]
[[Category:Companies formerly listed on the Nasdaq]]
[[Category:Bristol-Myers Squibb]]
[[Category:Drugs developed by Bristol Myers Squibb]]
[[Category:Biotechnology companies]]
[[Category:Biotechnology companies of the United States]]
[[Category:Companies based in Princeton, New Jersey]]
[[Category:Companies based in Princeton, New Jersey]]
[[Category:Pharmaceutical companies based in New Jersey]]
[[Category:Pharmaceutical companies based in New Jersey]]
[[Category:2009 mergers and acquisitions]]
[[Category:Pharmaceutical companies disestablished in 2009]]

Latest revision as of 07:01, 2 December 2023

Medarex
IndustryBiopharmaceutical
Founded1987; 37 years ago (1987)
FounderDr. Michael W. Fanger
Dr. Paul M. Guyre
Dr. Edward D. Ball
Defunct2009; 15 years ago (2009)
FateAcquired by Bristol Myers Squibb
HeadquartersPrinceton, New Jersey, US.
ParentBristol Myers Squibb

Medarex (former NASDAQ symbol: MEDX ) was an American biopharmaceutical company based in Princeton, New Jersey, with manufacturing facilities in Bloomsbury and Annandale, New Jersey, and research facilities in Milpitas and Sunnyvale, California. In 2009, Medarex was purchased by Bristol Myers Squibb.

Medarex developed monoclonal antibodies to CTLA-4 and PD-1, which are proteins on the surface of T cells. T cells attack cancer cells, but CTLA-4 and PD-1 act as "brakes" on the T cell's anti-cancer activities. The monoclonal antibodies bind to these proteins and block them, releasing the T cell to attack cancer cells.[1][2]

Several monoclonal antibodies developed by Medarex have been approved for disease therapy. In 2009, the U.S. Food and Drug Administration approved Simponi, a human monoclonal antibody to tumor necrosis factor alpha co-developed with Johnson & Johnson's Janssen Biotech, for treatment of arthritis.[3] In 2011, the U.S. FDA approved ipilimumab, a monoclonal antibody to CTLA-4, for treatment of metastatic melanoma.[1] In 2014, the U.S. FDA approved nivolumab, a monoclonal antibody to PD-1, for treatment of advanced melanoma.[4] Its use was expanded to the treatment of squamous non-small-cell lung carcinoma in 2015.[5]

Medarex developed some of the first transgenic mice with humanized immune systems, in order to generate fully human antibodies.[6] Many of the on-market monoclonal antibodies have been derived from this platform.[7]

History

[edit]

Medarex was founded in 1987 by a group of immunologists at Dartmouth Medical School—Dr. Michael W. Fanger, Dr. Paul M. Guyre, and Dr. Edward D. Ball — who partnered with Donald L. Drakeman and Charles Schaller of Essex Chemical Company, through its venture capital arm Essex Vencap.[citation needed]

Drakeman, a Dartmouth graduate, brought the parties together and served as the company's chief executive officer. The company went public in 1991, with 2,300,000 shares of common stock at $6.10 per share and 2,250,000 Redeemable Warrants offered at its IPO.[8] The company's second president and CEO was Howard H. Pien, succeeding Drakeman in 2007.[9] Genmab was founded as a European spin-off of American Biotech company Medarex in February 1999.[10]

The company was acquired by Bristol Myers Squibb in 2009 for $2.4 billion, which included $300 million in debt, making the payment to Medarex $2.1 billion.[11][12]

References

[edit]
  1. ^ a b Breakthrough of the Year: Cancer Immunotherapy, Science 20 December 2013, Vol. 342 no. 6165 pp. 1432-1433, DOI: 10.1126/science.342.6165.1432, Jennifer Couzin-Frankel
  2. ^ Clinical trial number NCT00094653 for "MDX-010 Antibody, MDX-1379 Melanoma Vaccine, or MDX-010/MDX-1379 Combination Treatment for Patients With Unresectable or Metastatic Melanoma" at ClinicalTrials.gov
  3. ^ Marcial, Gene (4 May 2009). "Marcial: Medarex, a Bright Spot in Biotech". businessweek.com. Archived from the original on September 25, 2014. Retrieved 24 Sep 2014.
  4. ^ "Bristol-Myers Squibb Receives Accelerated Approval of Opdivo (nivolumab) from the U.S. Food and Drug Administration - BMS Newsroom". news.bms.com.
  5. ^ "FDA Expands Approved Use of Nivolumab to Squamous NSCLC - ESMO". www.esmo.org.
  6. ^ Pierson, Ransdell (2009-07-23). "Bristol-Myers to buy Medarex for $2.4 billion". Reuters. Retrieved 2021-04-14.
  7. ^ Booth, Bruce. "Human Antibody Discovery: Of Mice And Phage". Forbes. Retrieved 2021-04-14.
  8. ^ "Medarex raises $12.9M in IPO for R&D of Biospecific". 1 May 1991. Retrieved 24 Sep 2014.
  9. ^ "Life in the Fast Lane: New at Medarex". pharmamedtechbi.com. 23 May 2007. Retrieved 24 Sep 2014.
  10. ^ "Final tally on Genmab IPO reaches $582M". www.bioworld.com. Retrieved 2020-09-10.
  11. ^ Dealbook Blog, New York Times. July 23, 2009 Bristol-Myers to Buy Medarex For $2.4 Billion
  12. ^ John Carroll for FierceBiotech Jul 23, 2009 Bristol-Myers to buy Medarex for $2.1B
[edit]
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