Medarex to Receive Milestone Payment from Novo Nordisk

Medarex to Receive Milestone Payment from Novo Nordisk
PRINCETON, N.J., March 31 /PRNewswire-FirstCall/ -- Medarex, Inc.
(Nasdaq: MEDX) today announced that it will receive a milestone payment for an
undisclosed amount from its licensing partner, Novo Nordisk A/S.  This payment
is a result of the submission of an Investigational New Drug application by
Novo Nordisk for the clinical development of an antibody generated by
Medarex's UltiMAb(R) technology.  Medarex may receive future milestone
payments and royalties should this product candidate progress through clinical
development and to the market.

    "We are pleased with the milestone achieved by Novo Nordisk and look
forward to continued development progress with this antibody," said Howard H.
Pien, President and CEO of Medarex. "Product development advances of this type
by Novo Nordisk and our other partners underpin the important role of our
antibody technology in the development of new therapeutics."

    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 40 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 3 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 website at
www.medarex.com.

    Medarex Statement on Cautionary Factors

    Except for the historical information presented herein, matters discussed
herein may constitute forward-looking statements that are subject to certain
risks and uncertainties that could cause actual results to differ materially
from any future results, performance or achievements expressed or implied by
such statements.  Statements that are not historical facts, including
statements preceded by, followed by, or that include the words "potential";
"may"; or similar statements are forward-looking statements. Medarex
disclaims, however, any intent or obligation to update these forward-looking
statements. Risks and uncertainties include risks associated with product
development, unforeseen safety issues resulting from the administration of
antibody products in humans, as well as risks detailed from time to time in
Medarex's public disclosure filings with the U.S. Securities and Exchange
Commission (SEC), including its Annual Report on Form 10-K for the fiscal year
ended December 31, 2007 and its quarterly reports on Form 10-Q.  There can be
no assurance that future milestone payments will be paid, whether the product
development efforts will succeed, or whether other developed products will
receive required regulatory clearance or that, even if such regulatory
clearance were received, such products would ultimately achieve commercial
success.  Copies of Medarex's public disclosure filings are available from its
investor relations department.

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

SOURCE  Medarex, Inc.
    -0-                             03/31/2008
    /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.; Novo Nordisk A/S
ST:  New Jersey
IN:  HEA MTC BIO
SU:

JM-LL
-- NEM008 --
5275 03/31/2008 06:00 EDT http://www.prnewswire.com