Celldex Announces $75,000,000 Proposed Public Offering of Common Stock

Celldex Announces $75,000,000 Proposed Public Offering of Common Stock

NEEDHAM, Mass., Feb. 4, 2013 (GLOBE NEWSWIRE) -- Celldex Therapeutics, Inc.
(Nasdaq:CLDX) today announced that it is offering $75,000,000 of its common
stock in a proposed underwritten public offering. All of the shares in the
offering will be sold by Celldex. The offering is subject to market
conditions, and there can be no assurance as to whether or when the offering
may be completed, or as to the actual size or terms of the offering. The
shares will be issued pursuant to a prospectus supplement filed as part of a
shelf registration statement previously filed with the Securities and Exchange
Commission (SEC) on Form S-3.

Jefferies & Company, Inc. and Leerink Swann LLC are acting as the joint
book-running managers and underwriters for the proposed offering.

A shelf registration statement relating to the shares was filed with the SEC
and is effective. A preliminary prospectus supplement related to the offering
will be filed with the SEC and will be available on the SEC's website located
at http://www.sec.gov. Copies of the preliminary prospectus supplement and the
accompanying prospectus relating to this offering may be obtained from
Jefferies & Company, Inc., Attention: Equity Syndicate Prospectus Department,
520 Madison Avenue, 12th Floor, New York, NY, 10022, by telephone at
877-547-6340 or by email at Prospectus_Department@Jefferies.com or from
Leerink Swann LLC, Attention: Syndicate Department, One Federal Street, 37th
Floor, Boston, MA 02110, by telephone at 1-800-808-7525 or by email at

This press release shall not constitute an offer to sell or the solicitation
of an offer to buy these securities, nor shall there be any sale of these
securities in any state or other jurisdiction in which such offer,
solicitation or sale would be unlawful prior to the registration or
qualification under the securities laws of any such state or other

About Celldex Therapeutics, Inc.

Celldex Therapeutics is the first antibody-based combination immunotherapy
company. Celldex has a pipeline of drug candidates in development for the
treatment of cancer and other difficult-to-treat diseases based on its
antibody focused Precision Targeted Immunotherapy (PTI) Platform. The PTI
Platform is a complementary portfolio of monoclonal antibodies,
antibody-targeted vaccines and immunomodulators used in optimal combinations
to create novel disease-specific drug candidates.

Safe Harbor Statement Under the Private Securities Litigation Reform Act of
1995: This announcement contains "forward-looking statements", including
statements relating to Celldex's expectations regarding the completion, timing
and size of the proposed public offering. These statements are subject to
significant risks and uncertainties; actual results could differ materially
from those projected and Celldex cautions investors not to place undue
reliance on the forward-looking statements contained in this release. These
risks and uncertainties include, without limitation, risks and uncertainties
related to market conditions and satisfaction of customary closing conditions
related to the public offering. There can be no assurance that Celldex will be
able to complete the public offering on the anticipated terms, or at all.
Risks and uncertainties relating to Celldex and its business can be found in
the "Risk Factors" section of Celldex's Form 10-K, filed with the SEC on March
8, 2012, and in the preliminary prospectus supplement and related prospectus
related to the proposed offering to be filed with the SEC. Celldex undertakes
no duty or obligation to update any forward-looking statements contained in
this release as a result of new information, future events or changes in
Celldex's expectations.

CONTACT: Sarah Cavanaugh
         Vice President of IR & Corp Communications
         Celldex Therapeutics, Inc.
         (781) 433-3161
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