MEDAREX GETS MILESTONE PAYMENTMedarex Inc. of Princeton, N.J., said it has received a $250,000milestone payment from Centre National de TransfusionSanguine (CNTS), the French national center for bloodtransfusion.
The payment brings total payments to date from CNTS to $2.25million. The funding is part of a 1989 agreement to collaborateon AIDS and cancer treatments under which Medarex willreceive $3.2 million and sales royalties. CNTS will haveEuropean rights to certain Medarex therapeutics that may bedeveloped using its bispecific antibody technology.
Medarex (NASDAQ:MEDX and MEDXW) completed its initial publicoffering in June.
QUINTILES NETS $5 MILLION IN PRIVATE PLACEMENT
Quintiles Transnational Corp., a contract research companybased in Research Triangle Park, N.C., said it has raised $5million in a private placement of its common stock. Investorswere Thompson Clive & Partners Ltd. and NCNB Venture Co. L.P.The company has research centers in the United States, Japan,the United Kingdom, Ireland and Germany.
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