Medarex, Corixa conjugate deal

MEDX acquired CRXA's Ultra-Potent Toxin (UPT) technology for making antibody-toxin conjugates plus certain preclinical programs in cancer and other indications for $21 million in cash or stock. The programs obtained by MEDX include the IFNAR1 program to develop monoclonal antibody-based products to inhibit the activity of Type I interferons; three MAb targets; and a tumor activated pro-drug program that includes preclinical chemotherapeutic CPI-004 for solid tumors.

MEDX also purchased certain equipment to support the programs for an additional $2.5 million. As part of the deal, MEDX will give CRXA a license to use UPT's with certain MAbs in exchange for milestones and royalties. ...