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

Friday, February 1, 2008 General News
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PRINCETON, N.J., Feb. 1 Medarex, Inc.(Nasdaq: MEDX) announced today that it has completed the sale of approximately2.5 million shares of Genmab A/S which stock is traded on the Copenhagen StockExchange. The trade is expected to settle on February 1, 2008. Medarex expectsto receive approximately $151.8 million (USD) in net proceeds from the sale.The sale of Genmab shares reduces Medarex's ownership in Genmab toapproximately 5.1 percent.
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About Medarex

Medarex is a biopharmaceutical company focused on the discovery,development and potential commercialization of fully human antibody-basedtherapeutics to treat life-threatening and debilitating diseases, includingcancer, inflammation, autoimmune disorders and infectious diseases. Medarexapplies its UltiMAb(R) technology and product development and clinicalmanufacturing experience to generate, support and potentially commercialize abroad range of fully human antibody product candidates for itself and itspartners. More than 30 of these therapeutic product candidates derived fromMedarex technology are in human clinical testing or have had INDs submittedfor such trials, with seven of the most advanced product candidates currentlyin Phase III clinical trials or the subject of regulatory applications formarketing authorization. Medarex is committed to building value by developinga diverse pipeline of antibody products to address the world's unmethealthcare needs. For more information about Medarex, visit its Web site atwww.medarex.com.

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

SOURCE Medarex, Inc.
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