Celldex Therapeutics Inc

Celldex Therapeutics Inc

May 12, 2006 06:51 ET

Celldex Appoints Robert Burns As Chief Executive Officer

PHILLIPSBURG, NEW JERSEY--(CCNMatthews - May 12, 2006) - Celldex Therapeutics, the drug discovery company specialising in immunotherapy, is pleased to announce the appointment of Robert Forbes Burns, PhD, as Chief Executive Officer.

Robert Burns, has over 30 years experience in science, technology and business development both in the USA and UK, and has been instrumental in establishing a number of start-up companies during this time. Prior to joining Celldex, he was Director of the Office of Technology Licensing at the Ludwig Institute for Cancer Research, New York. Whilst there, he led the development of the Ludwig's programme for forming spin-out companies based on Ludwig IP. New spin-outs included PIramed, Slough, UK; Lymphatix, Helsinki, Finland; and Recepta, Sao Paolo, Brazil.

From 1994-2002 Robert played a key role in the growth and transformation of Oxford GlycoSciences plc into one of Europe's acknowledged leading publicly quoted biotech companies. He was responsible for generating and negotiating new business deals producing non-milestone related income in excess of $45m with corporate partners such as Pfizer Inc, GlaxoWellcome and Merck & Co. Inc.

Robert has also held senior executive positions at British Biotechnology plc, Applied bioTechnology Inc, Ciba-Corning Diagnostics, and Corning Diagnostics, and is a Non-Executive Director of Lymphatix Oy, Helsinki.

Don Drakeman, Chairman of Medarex, said, "We are delighted to welcome Robert to the Board as Chief Executive Officer. He is a very experienced biotech executive, with highly relevant background and close contacts gained from his time at the Ludwig Institute, one of the leading academic institutions performing clinical research in cancer immunology. Robert has shown strong commercial acumen in devising and implementing successful strategies in a range of new and established businesses, and we look forward to Celldex's further growth under Robert's leadership."

Notes to Editors

ABOUT CELLDEX THERAPEUTICS INC

Celldex is a biotechnology company focused on the discovery, development and commercialization of novel immunotherapeutics including human monoclonal antibodies for the treatment of cancer, infectious diseases, and immune system disorders.

Celldex's proprietary core technology utilizes human monoclonal antibodies to directly target and deliver antigens for optimal processing to antigen presenting cells (APCs) and, in particular, to dendritic cells. Because these cells are critical for initiating the immune system's disease-fighting mechanisms, Celldex believes product candidates using this unique APC Targeting Technology™ will create more potent immune responses to active immunization than standard immunotherapy strategies.

The focus of Celldex is to transform these innovative proprietary technologies into attractive product candidates for therapy of cancer, infectious and auto-immune diseases.

Celldex is an operating subsidiary of US-based Medarex, Inc (NASDAQ:MEDX).

For more information, please visit the website: http://www.celldextherapeutics.com

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