Medarex, Centeon L.L.C. deal

The companies agreed to jointly develop MDX-33, MEDX's humanized monoclonal antibody to treat a variety of hematological disorders that result from the body's autoimmune response. Centeon, a joint venture of Rhone-Poulenc Rorer and Hoechst AG, will pay a $1 million technology access fee and $1 million in R&D funding for manufacturing improvements. Centeon will finance product development through Phase II trials up to a maximum of $20 million. Centeon also will fund Phase III trials, regulatory approvals and commercial launch costs. MEDX can receive up to $10 million in milestones in addition to royalties. ...