Medarex, Inc. and PharmAthene, Inc., a privately held biotechnology company dedicated to the development of biodefense products, announced today that the companies have entered into a collaboration agreement under which the companies plan to develop and commercialize MDX-1303, a fully human monoclonal antibody targeting the Bacillus anthracis protective antigen.
MDX-1303 was developed by Medarex using its UltiMAb Human Antibody Development System, and this antibody is currently in preclinical development by Medarex for use against human anthrax infection.
Under the terms of the agreement, Medarex and PharmAthene have agreed to jointly continue to investigate the potential for MDX-1303 to be used as a therapeutic for individuals with active disease as well as for prophylactic treatment of individuals exposed to anthrax. Medarex will receive an initial payment from PharmAthene which will be used to fund development activities already underway for MDX-1303. PharmAthene will be fully responsible for funding all future research and development activities that are not supported by government funds. The companies will share profits according to a pre- agreed allocation percentage. The specific financial terms of the agreement have not been disclosed.
PharmAthene recently announced that it had completed a financing of $50 million dollars which will enable the company to expand its efforts to develop biodefense products.
The Department of Health & Human Services (DHHS) recently solicited responses to a Request for Proposal (RFP) for 'Acquisition of Therapeutic Products for Treatment of Inhalational Anthrax Disease for the Strategic National Stockpile (SNS)' under which monoclonal antibodies will be selected and purchased to treat civilians in the event of a bioterror attack using Bacillus anthracis. It is anticipated that there will be additional annual solicitations by DHHS over the next two years until the SNS is sufficiently stockpiled with these critical anthrax therapeutics.
Medarex recently announced that it has been awarded two grants from the National Institute of Allergy and Infectious Diseases (NIAID), part of the National Institutes of Health (NIH), to support Medarex's research and development of MDX-1303. If all performance milestones are met, the grants could total approximately $7.2 million over the next three years. These grants will be applied to research and development activities under the collaboration.