Celldex Therapeutics Announces Issuance of Seminal Patent for CD27 Agonists

Celldex Therapeutics Announces Issuance of Seminal Patent for CD27 Agonists

Patent Provides Broad-Based Intellectual Property Platform for CDX-1127

PHILLIPSBURG, N.J., July 10, 2013 (GLOBE NEWSWIRE) -- Celldex Therapeutics,
Inc. (Nasdaq:CLDX) announced today that the United States Patent and Trademark
Office (USPTO) has issued US Patent No: 8,481,029 entitled "Human immune
therapies using a CD27 agonist alone or in combination with other immune
modulators" which broadly supports the Company's product candidate CDX-1127.
CD27, a signaling molecule expressed on T lymphocytes, can be effectively
manipulated with activating antibodies to induce potent anti-tumor responses
and, due to the restricted expression and regulation of CD27, may result in
less toxicity—overcoming a key barrier that other targets in this class have
faced. CDX-1127 is a fully human monoclonal antibody (mAb) that targets CD27
and is currently in Phase 1 clinical development for the treatment of solid
tumors and hematologic malignancies.

The patent is assigned to the University of Southampton and Celldex has an
exclusive license to this patent based on the execution of an exclusive
licensing agreement with the University of Southampton to develop human
antibodies to CD27 in November 2008. The patent includes 18 claims covering
various methods of treating cancer using agonistic anti-human CD27 antibodies
and relates, among other things, directly to Celldex's CD27 antibody program
and therapeutic uses of Celldex's antibody CDX-1127.

"We continue to make excellent progress advancing CDX-1127 and securing this
key piece of intellectual property is an important achievement as we expand
our clinical program in solid tumors and complete dose-escalation studies in
hematologic malignancies," said Tibor Keler, Senior Vice President and Chief
Scientific Officer of Celldex Therapeutics. "This patent also directly speaks
to the importance of the innovative work of Professor Martin Glennie and his
team at the University of Southampton in targeting members of the TNF receptor
superfamily—which we believe is resulting in rapid translation of exciting
immunostimulatory antibodies into the clinic."

At the 2013 American Association of Cancer Research Annual Meeting, in vitro
human data were presented that demonstrated that CDX-1127 elicits potent
activation of T cells by inducing their proliferation and release of important
immune modulating cytokines. Most importantly, the data demonstrated that this
activation is highly regulated, which limits safety concerns related to
non-specific stimulation of the immune system that similar candidates in this
class have faced. These finding have continued to be supported by the
favorable safety profile seen to date in our ongoing multi-dose Phase 1 human
clinical trial. In the solid tumor arm, dose escalation has been completed and
CDX-1127 was determined to be well tolerated, including at the highest dose
level. The Company recently initiated the expansion part of the study with
cohorts in metastatic melanoma and renal cell carcinoma. The hematologic tumor
arm continues to enroll patients in the dose escalation portion of the study
and expects to move into expansion cohorts by year-end.

About Celldex Therapeutics, Inc.:

Celldex is developing targeted therapeutics to address devastating diseases
for which available treatments are inadequate. Our pipeline is built from a
proprietary portfolio of antibodies and immunomodulators used alone and in
strategic combinations to create novel, disease-specific therapies that
induce, enhance or suppress the body's immune response. Visit
http://www.celldextherapeutics.com.

Safe Harbor Statement Under the Private Securities Litigation Reform Act of
1995:

This release contains "forward-looking statements" made pursuant to the safe
harbor provisions of the Private Securities Litigation Reform Act of 1995,
including those related to the Company's strategic focus and the future
development and commercialization (by Celldex and others) of rindopepimut
(CDX-110), CDX-011, CDX-1135, CDX-1401, CDX-1127, CDX-301, Belinostat and
other products. Forward-looking statements reflect management's current
knowledge, assumptions, judgment and expectations regarding future performance
or events. Although management believes that the expectations reflected in
such statements are reasonable, they give no assurance that such expectations
will prove to be correct and you should be aware that actual results could
differ materially from those contained in the forward-looking statements.
Forward-looking statements are subject to a number of risks and uncertainties,
including, but not limited to, our ability to successfully complete research
and further development and commercialization of rindopepimut, CDX-011 and
other drug candidates, our ability to obtain additional capital to meet our
long-term liquidity needs on acceptable terms, or at all, including the
additional capital which will be necessary to complete the clinical trials
that we have initiated or plan to initiate; our ability to adapt our APC
Targeting Technology^TM to develop new, safe and effective vaccines against
oncology and infectious disease indications; our ability to successfully
complete product research and further development of our programs; the
uncertainties inherent in clinical testing; our limited experience in bringing
programs through Phase 3 clinical trials; our ability to manage research and
development efforts for multiple products at varying stages of development;
the timing, cost and uncertainty of obtaining regulatory approvals; the
failure of the market for the Company's programs to continue to develop; our
ability to protect the Company's intellectual property; the loss of any
executive officers or key personnel or consultants; competition; changes in
the regulatory landscape or the imposition of regulations that affect the
Company's products; and other factors listed under "Risk Factors" in our
annual report on Form 10-K.

All forward-looking statements are expressly qualified in their entirety by
this cautionary notice. You are cautioned not to place undue reliance on any
forward-looking statements, which speak only as of the date of this release.
We have no obligation, and expressly disclaim any obligation, to update,
revise or correct any of the forward-looking statements, whether as a result
of new information, future events or otherwise.

CONTACT: Company Contact:
         Sarah Cavanaugh
         Vice President of IR & Corp Comm
         Celldex Therapeutics, Inc.
         (781) 433-3161
         scavanaugh@celldextherapeutics.com