Key Developments For Micromet, Inc.
Micromet, Inc. (MITI.O) (Consolidated Issue listed on NASDAQ Global Market)
Micromet Inc. Buys Out MedImmune's Remaining Rights To Blinatumomab
Micromet Inc. announced that it has signed an agreement with MedImmune, LLC to buy out MedImmune's rights to blinatumomab in North America, and to terminate the collaboration agreement signed in 2003, under which MedImmune had been granted the right to develop and commercialize blinatumomab in North America. As a result of this transaction, Micromet now controls global rights to develop and commercialize blinatumomab.
sanofi-aventis And Micromet Inc. To Collaborate On BiTE Antibody-DJ
Dow Jones reported that sanofi-aventis and Micromet Inc. have signed an agreement to license and develop the cancer treatment BiTE antibody. According to the agreement, Micromet will develop the treatment through Phase I trials and Sanofi will then take charge of further development and commercialization of the antibody. Sanofi will pay Microment EUR8 million upfront. Micromet could then receive up to EUR162 million in royalties and up to an additional EUR150 million for sales.
CORRECTION OFFICIAL - Micromet Inc. Announces Interim Data From Phase 1 Study of BiTE Antibody MT110 for the Treatment of Solid Tumors
CORRECTED TO READ IN THE BODY...1 microgram per patient per day. Results from doses up to 12 micrograms...INSTEAD OF 1 g per patient per day. Results from doses up to 12 g Micromet Inc. announced interim data from a phase 1 dose-escalation clinical study for BiTE antibody MT110, the T-cell engaging antibody for the treatment of solid tumors. MT110 is designed to direct the patients' own T cells against cancer cells that express the epithelial cell adhesion molecule (EpCAM). To date, 20 patients with late-stage lung or gastrointestinal cancers have been treated with MT110. The starting dose in this phase 1 dose escalation trial was 1 microgram per patient per day. Results from doses up to 12 micrograms per patient per day were reported. MT110 is administered by continuous intravenous infusion for a minimum of four weeks with the option of additional treatment cycles until disease progression. No maximum tolerated dose has been reached and dose escalation is ongoing. MT110 is well tolerated with no grade 3 or 4 clinical events related to MT110 therapy observed so far. The most frequent adverse events related to MT110 treatment were mild pyrexia and fatigue. Laboratory analysis of all patients revealed an early clinically asymptomatic increase of liver enzymes that normalized after several days under continued treatment. Other laboratory abnormalities included transient lymphopenia. No cytokine release syndrome, pancreatitis or immune response to MT110 was observed. At the dose
Micromet Inc. Closes $80.5 Million Public Offering Of Common Stock
Micromet Inc. announced the closing of its previously announced public offering of 14,000,000 shares of common stock. The Company also announced that the underwriters for the offering have exercised in full their over-allotment option to purchase an additional 2,100,000 shares, bringing the total shares sold to 16,100,000 at a price of $5.00 per share for gross proceeds of $80.5 million. The Company received net proceeds of approximately $75.0 million, after deducting underwriting discounts and estimated offering expenses. Piper Jaffray & Co. acted as the sole book running manager with RBC Capital Markets and Merriman Curhan Ford as co-managers in this offering.
Micromet Inc. Receives European Orphan Drug Designation for Treatment of Acute Lymphoblastic Leukemia with BiTE Antibody Blinatumomab
Micromet Inc. announced that it has received Orphan Drug Designation from the European Medicines Agency (EMEA) for BiTE antibody blinatumomab (MT103) for acute lymphoblastic leukemia (ALL). In June, Micromet announced that the Company had achieved its primary endpoint in an ongoing Phase 2 study of ALL patients. The Company presented data at the the 14(th) Congress of the European Hematology Association (EHA) in Berlin, Germany, showing an 81% response rate in acute lymphoblastic leukemia (ALL) patients with minimal residual disease (MRD)(1). The patients included in this phase 2 clinical trial were in complete hematological remission following intense chemotherapy regimens, but retained a detectable level of ALL cancer cells in their bone marrow - so called minimal residual disease (MRD). Various studies have confirmed that ALL patients with MRD following chemotherapy have a significantly worse prognosis than patients without MRD.
