Micromet Announces Public Offering of Common Stock
July 29 2009 - 3:00PM
PR Newswire (US)
BETHESDA, Md., July 29 /PRNewswire-FirstCall/ -- Micromet, Inc.
(NASDAQ: MITI), a biopharmaceutical company developing novel,
proprietary antibodies for the treatment of cancer, inflammation
and autoimmune diseases, today announced that it intends to offer
shares of its common stock in a public offering. Piper Jaffray
& Co. is acting as the sole book running manager, with RBC
Capital Markets as co-manager in this offering. The offering is
being made pursuant to a shelf registration statement filed with
the Securities and Exchange Commission on June 19, 2009, which
became effective on July 2, 2009. A prospectus supplement relating
to the offering will be filed with the Securities and Exchange
Commission. This press release shall not constitute an offer to
sell or the solicitation of an offer to buy, 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 jurisdiction. When available, copies of the
prospectus supplement relating to this offering may be obtained by
contacting Piper Jaffray & Co. by mail at 800 Nicollet Mall,
Suite 800, Minneapolis, MN 55402, or by telephone at (800)
747-3924. About Micromet, Inc. Micromet, Inc. is a
biopharmaceutical company developing novel, proprietary antibodies
for the treatment of cancer, inflammation and autoimmune diseases.
Its product development pipeline includes novel antibodies
generated with its proprietary BiTE antibody platform, as well as
conventional monoclonal antibodies. BiTE antibodies represent a new
class of antibodies that activate the T cells of a patient's immune
system to eliminate cancer cells. Five of Micromet's antibodies are
currently in clinical trials. Its BiTE antibody blinatumomab
(MT103) is in a phase 2 clinical trial for the treatment of
patients with acute lymphoblastic leukemia (ALL), and in a phase 1
clinical trial for the treatment of patients with non-Hodgkin's
lymphoma (NHL). A second BiTE antibody, MT110, is in a phase 1
clinical trial for the treatment of patients with solid tumors.
MT110 binds to the epithelial cell adhesion molecule, or EpCAM,
which is overexpressed in many solid tumors. Micromet's human
monoclonal antibody adecatumumab (MT201) also binds to EpCAM and is
being developed under a collaboration with Merck Serono.
Adecatumomab is in a phase 2 clinical trial in colorectal carcinoma
patients after complete resection of liver metastases, and a phase
1b clinical trial evaluating adecatumumab in combination with
docetaxel for the treatment of patients with metastatic breast
cancer. Micromet's monoclonal antibody MT293, also known as TRC093,
is licensed to TRACON Pharmaceuticals, Inc., and is in a phase 1
clinical trial for the treatment of patients with cancer. MT203, a
human antibody neutralizing the activity of granulocyte/macrophage
colony stimulating factor (GM-CSF), which has potential
applications in the treatment of various inflammatory and
autoimmune diseases, such as rheumatoid arthritis, psoriasis, or
multiple sclerosis, is in a phase 1 clinical trial conducted by
Micromet's collaboration partner Nycomed. Micromet's licensee
Morphotek, a wholly-owned subsidiary of Eisai, is also expected to
initiate a phase 1 clinical trial in 2009 with Micromet's
glycolipid-binding human antibody MT228 for the treatment of
melanoma. Micromet's preclinical product pipeline includes several
novel BiTE antibodies generated with its proprietary BiTE antibody
platform technology. A BiTE antibody targeting CEA for the
treatment of solid tumors is being developed in collaboration with
MedImmune. In addition, Micromet has entered into an option,
collaboration and license agreement with Bayer Schering Pharma AG
under which Bayer Schering Pharma was granted an exclusive option
until January 2010 to license a specified BiTE antibody against an
undisclosed solid tumor target. Other BiTE antibodies targeting
MSCP, CD33, HER2, EGFR and other targets are in various stages of
preclinical development. Forward-Looking Statements This release
contains certain forward-looking statements that involve risks and
uncertainties that could cause actual results to be materially
different from historical results or from any future results
expressed or implied by such forward-looking statements. These
forward-looking statements include statements regarding the
efficacy, safety and intended utilization of our product
candidates, the conduct, timing and results of future clinical
trials, and expectations of the future expansion of our product
pipeline and collaborations. You are urged to consider statements
that include the words "ongoing," "may," "will," "believes,"
"potential," "expects," "plans," "anticipates," "intends," or the
negative of those words or other similar words to be uncertain and
forward-looking. Factors that may cause actual results to differ
materially from any future results expressed or implied by any
forward-looking statements include the risk that product candidates
that appeared promising in early research, preclinical studies or
clinical trials do not demonstrate safety and/or efficacy in
subsequent clinical trials, the risk that encouraging results from
early research, preclinical studies or clinical trials may not be
confirmed upon further analysis of the detailed results of such
research, preclinical study or clinical trial, the risk that
additional information relating to the safety, efficacy or
tolerability of our product candidates may be discovered upon
further analysis of preclinical or clinical trial data, the risk
that we or our collaborators will not obtain approval to market our
product candidates, the risks associated with reliance on outside
financing to meet capital requirements, and the risks associated
with reliance on collaborators, including MedImmune, Merck Serono,
TRACON and Nycomed, for the funding or conduct of further
development and commercialization activities relating to our
product candidates. These factors and others are more fully
discussed in Micromet's Quarterly Report on Form 10-Q for the
fiscal quarter ended March 31, 2009, filed with the SEC on May 11,
2009, as well as other filings by the company with the SEC.
DATASOURCE: Micromet, Inc. CONTACT: US Media: Andrea tenBroek or
Chris Stamm, +1-781-684-0770, ; or European Media: Ludger Wess, +49
(40) 8816 5964, ; or US Investors: Susan Noonan, +1-212-966-3650, ;
or European Investors: Ines-Regina Buth, +49 (30) 2363 2768, Web
Site: http://www.micromet-inc.com/
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