On Friday baby biopharma Medarex
The drug candidate MEDI-545 has been under development by MedImmune, which was recently acquired by AstraZeneca. MEDI-545 is being tested as a potential treatment for lupus. It was part of a two-drug research and development deal signed with Medarex in 2004 and which brought $15 million in upfront payments into Medarex's coffers.
AstraZeneca will be paying for all development costs associated with the drug but Medarex still stands to receive royalties and milestone payments should the drug make it to market. Medarex can also elect to co-develop MEDI-545 prior to the pivotal phase 3 studies of the compound. While that would increase Medarex's expenses, it also could mean more lucrative revenues in the future.
For a drug developer with less than a $2 billion market cap, Medarex has a huge amount of novel molecules in development. Over 30 compounds using its technology are in clinical stage testing between its own pipeline and the pipelines of its partners.
This is a relatively more risky path than drugmakers like Flamel Technologies
Medarex has development deals in place with several big name pharmas like Amgen
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