Jul. 13, 2009-- Medarex, Inc. (NASDAQ:MEDX) announced it will receive a milestone payment of an undisclosed amount from its licensing partner, FibroGen,Inc., in connection with a recently initiated Phase 2 clinical trial of FG-3019 in patients with type 2 diabetes and advanced kidney disease as announced by FibroGen on June 15, 2009.
FG-3019 is a fully human monoclonal antibody generated using Medarex's UltiMAb(R) technology against connective tissue growth factor(CTGF). Under the agreement with FibroGen, Medarex could receive future milestone payments and sales-based royalty payments... Medarex's Press Release -
