Medarex Announces Completion of Sale of Shares in Genmab A/S

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Medarex Announces Completion of Sale of Shares in Genmab A/S
PRINCETON, N.J., Feb. 1 /PRNewswire-FirstCall/ -- Medarex, Inc.
(Nasdaq: MEDX) announced today that it has completed the sale of approximately
2.5 million shares of Genmab A/S which stock is traded on the Copenhagen Stock
Exchange. The trade is expected to settle on February 1, 2008. Medarex expects
to receive approximately $151.8 million (USD) in net proceeds from the sale.
The sale of Genmab shares reduces Medarex's ownership in Genmab to
approximately 5.1 percent.

    About Medarex

    Medarex is a biopharmaceutical company focused on the discovery,
development and potential commercialization of fully human antibody-based
therapeutics to treat life-threatening and debilitating diseases, including
cancer, inflammation, autoimmune disorders and infectious diseases. Medarex
applies its UltiMAb(R) technology and product development and clinical
manufacturing experience to generate, support and potentially commercialize a
broad range of fully human antibody product candidates for itself and its
partners. More than 30 of these therapeutic product candidates derived from
Medarex technology are in human clinical testing or have had INDs submitted
for such trials, with seven of the most advanced product candidates currently
in Phase III clinical trials or the subject of regulatory applications for
marketing authorization. Medarex is committed to building value by developing
a diverse pipeline of antibody products to address the world's unmet
healthcare needs. For more information about Medarex, visit its Web site at
www.medarex.com.

    Medarex(R), the Medarex logo and UltiMAb(R) are registered trademarks of
Medarex, Inc.  All rights are reserved.

SOURCE  Medarex, Inc.
    -0-                             02/01/2008
    /CONTACT:  Laura S. Choi, Investor Relations, +1-609-430-2880, x2216, or
Jean Mantuano, Corporate Communications - media, +1-609-430-2880, x2221, both
of Medarex, Inc./
    /Company News On-Call:  http://www.prnewswire.com/comp/108265.html/
    /Web site:  http://www.medarex.com /
    (MEDX)

CO:  Medarex, Inc.; Genmab A/S
ST:  New Jersey
IN:  HEA MTC BIO
SU:

MJ-TC
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7214 02/01/2008 06:00 EST http://www.prnewswire.com