Medarex to Receive Milestone Paym. from Amgen 18dec
a coincidence?

PRINCETON, N.J., Dec. 18 /PRNewswire-FirstCall/ -- Medarex, Inc.
(Nasdaq: MEDX) today announced that it will receive a milestone payment for an
undisclosed amount from its licensing partner, Amgen, for advancing an
antibody into human clinical trials. The antibody was developed using
Medarex's UltiMAb(R) technology and is the fifth UltiMAb-derived antibody in
clinical development by Amgen, including two UltiMAb antibodies in Phase II
clinical studies. Medarex may receive future milestone payments and royalties
should this product candidate progress through clinical development and to the
market.

"As a leading biotechnology company, Amgen continues to use its product
development expertise to move UltiMAb-derived antibodies into clinical
development and potentially toward commercialization," said Howard H. Pien,
President and CEO of Medarex. "We are pleased by the advancements made by
Amgen with UltiMAb antibodies and look forward to their continued progress."

Medarex is a biopharmaceutical company focused on the discovery,
development and potential commercialization of fully human antibody-based
therapeutics to treat life-threatening and debilitating diseases, including
cancer, inflammation, autoimmune disorders and infectious diseases. Medarex
applies its UltiMAb(R) technology and product development and clinical
manufacturing experience to generate, support and potentially commercialize a
broad range of fully human antibody product candidates for itself and its
partners. More than 30 of these therapeutic product candidates derived from
Medarex technology are in human clinical testing or have had INDs submitted
for such trials, with seven of the most advanced product candidates currently
in Phase III clinical trials or the subject of regulatory applications for
marketing authorization. Medarex is committed to building value by developing
a diverse pipeline of antibody products to address the world's unmet
healthcare needs. For more information about Medarex, visit its Web site at
www.medarex.com.