Medarex, Ability Biomedical Corp. deal

MEDX will acquire Ability Biomedical for $4.7 million in cash and/or stock. Ability holds IP covering IP-10 ( CXCL10), which is thought to be associated with immune disorders, including multiple sclerosis (MS), rheumatoid arthritis (RA), inflammatory bowel disease (IBD), chronic obstructive pulmonary disease (COPD) and Type I diabetes. MEDX's MDX-1100 is a human antibody that targets IP-10, for which the company plans to file an IND in the first half of 2005. ...