PEREGRINE IN LICENSE DEAL WITH MEDAREX

Cancer drug developer Peregrine Pharmaceuticals Inc. said Thursday that it licensed certain rights to its tumor-targeting technology to biopharmaceutical company Medarex Inc. The company did not disclose financial details in a news release, but said it will receive an upfront payment and annual maintenance fees along with potential milestone and royalty payments. In return, Princeton, N.J.-based Medarex receives the right to develop its prostate-specific antibody along with certain drugs to treat a range of solid tumors.

Forbes (http://www.forbes.com/business/healthcare/feeds/ap/2005/08/25/ap2192333.html)