Medarex

In 1987, a group of immunologists from Dartmouth Medical School, including Dr. Michael W. Fanger, Dr. Paul M. Guyre, and Dr. Edward D. Ball, founded Medarex. They partnered with Donald L. Drakeman and Charles Schaller, who provided the business and venture capital connection. The company's core idea was to develop fully human monoclonal antibodies to treat a variety of diseases. Instead of creating drugs that directly attack diseases, Medarex focused on creating antibodies that could harness the body's own immune system, essentially removing the 'brakes' on T-cells that prevent them from fighting cancer. Medarex went public in 1991, raising capital to advance its ambitious platform. The company's key breakthrough was its UltiMAb technology, a system that used transgenic mice to produce fully human antibodies. This platform became the engine of the company, leading to collaborations with major pharmaceutical players like Pfizer and Bristol-Myers Squibb. The company’s work culminated in the development of groundbreaking immunotherapy drugs. Ipilimumab (Yervoy) and nivolumab (Opdivo), two of its most significant discoveries, became foundational treatments for melanoma and other cancers. The ultimate validation of Medarex's platform and pipeline came in July 2009. Bristol-Myers Squibb, recognizing the immense potential of Medarex's immunotherapy assets, announced it would acquire the company for approximately $2.4 billion. The acquisition gave the pharmaceutical giant full ownership of a powerful antibody discovery engine and a leading position in the new, promising field of immuno-oncology.