Medarex
{{short description|American biopharmaceutical company}}
{{Infobox company
| name = Medarex
| type = Public
| traded_as = {{NASDAQ was|MEDX}}
| industry = Biopharmaceutical
| fate = Acquired by Bristol Myers Squibb
| founded = {{Start date and age|1987}}
| founder = Dr. Michael W. Fanger
Dr. Paul M. Guyre
Dr. Edward D. Ball
| defunct = {{End date and age|2009}}
| hq_location = Princeton, New Jersey, U.S.
| parent = Bristol Myers Squibb
}}
Medarex 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.[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{{ClinicalTrialsGov|NCT00094653|MDX-010 Antibody, MDX-1379 Melanoma Vaccine, or MDX-010/MDX-1379 Combination Treatment for Patients With Unresectable or Metastatic Melanoma}}
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.{{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}}
In 2011, the U.S. FDA approved ipilimumab, a monoclonal antibody to CTLA-4, for treatment of metastatic melanoma.
In 2014, the U.S. FDA approved nivolumab, a monoclonal antibody to PD-1, for treatment of advanced melanoma.{{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}} Its use was expanded to the treatment of squamous non-small-cell lung carcinoma in 2015.{{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}}
Medarex developed some of the first transgenic mice with humanized immune systems, in order to generate fully human antibodies.{{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}} Many of the on-market monoclonal antibodies have been derived from this platform.{{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}}
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.{{Citation needed|date=August 2020}}
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.{{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}} The company's second president and CEO was Howard H. Pien, succeeding Drakeman in 2007.{{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}} Genmab was founded as a European spin-off of American Biotech company Medarex in February 1999.{{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}}
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.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]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]
References
{{reflist}}
External links
- [https://www.bms.com/ medarex.com is now BMS.com] Corporate website
Category:Companies formerly listed on the Nasdaq
Category:Drugs developed by Bristol Myers Squibb
Category:Biotechnology companies of the United States
Category:Companies based in Princeton, New Jersey
Category:Pharmaceutical companies based in New Jersey
Category: 1991 initial public offerings