SOURCE: Micromet Inc.

December 05, 2006 03:19 ET

Micromet, Inc. and Serono Amend Collaboration Agreement and Continue Development of Adecatumumab (MT201)

CARLSBAD, CA -- (MARKET WIRE) -- December 5, 2006 --



Micromet to continue development on behalf of the collaboration

Carlsbad, CA - December 5, 2006 - Micromet, Inc. (NASDAQ: MITI) ("Micromet" or the "Company"), a biopharmaceutical company focusing on the development of novel, proprietary antibody-based products for cancer, inflammatory and autoimmune diseases, today announced that Serono and Micromet have agreed to amend the collaboration agreement under which the two companies are developing adecatumumab (MT201). The companies are planning additional exploratory and clinical activities to identify the optimal dosing regimen as well as explore additional indications for adecatumumab. As a result of the amendment, Micromet will continue to have operational responsibility for the currently ongoing Phase 1b trial to evaluate the combination of adecatumumab and docetaxel in patients with metastatic breast cancer, and a new Phase 1 monotherapy study for the treatment of patients with solid tumors planned to begin in 2007. Serono will reimburse Micromet for its costs incurred in connection with the development program.

Adecatumumab is a human monoclonal antibody targeting tumor cells overexpressing the epithelial cell adhesion molecule (EpCAM). As previously announced, the primary end points in the two Phase 2 clinical trials were not met. However, the analysis of time to progression of patients suffering from metastatic breast cancer suggested dose dependent activity of adecatumumab as well as dependency on the level of EpCAM target expression on tumors. The Phase 2 clinical trials have also confirmed the safety and feasibility of adecatumumab treatment.

Christian Itin, President and Chief Executive Officer of Micromet, Inc. stated: "We are excited to extend our active role in the development of adecatumumab, and are looking forward to continuing the constructive collaboration with our colleagues at Serono."

About Adecatumumab

Adecatumumab is a human monoclonal antibody targeting tumor cells overexpressing the epithelial cell adhesion molecule (EpCAM). EpCAM is the most widely and frequently expressed tumor-associated antigen known, and therefore, as target for monoclonal antibodies, has the potential to treat a majority of human solid tumors including breast, prostate, ovarian, colon, lung, pancreas and gastric cancer. Recent work suggested that EpCAM overexpressed on tumor cells is a potent oncogenic signaling protein, is present on so-called tumor stem cells and was shown in various cancer indications to be a negative prognostic factor for patient survival.

About Micromet, Inc. (www.micromet-inc.com)

Micromet, Inc. is a biopharmaceutical company focusing on the development of novel, proprietary antibody-based products for cancer, inflammatory and autoimmune diseases. Two product candidates are currently in clinical trials. Adecatumumab (MT201) is a recombinant human monoclonal antibody which targets EpCAM expressing tumors with which Micromet has completed two phase 2 clinical trials, one in patients with breast cancer and the other in patients with prostate cancer. In addition, a phase 1b trial evaluating the safety and tolerability of MT201 in combination with docetaxel is currently ongoing in patients with metastatic breast cancer. MT103 (MEDI-538), which is the first product candidate based on the novel a BiTE® product development platform, is being evaluated in a phase 1 clinical trial for the treatment of patients with non-Hodgkins lymphoma in conjunction with MedImmune. The BiTE® product development platform is based on a unique, antibody-based format that leverages the cytotoxic potential of T cells, the most powerful 'killer cells' of the human immune system. Micromet has established collaborations with MedImmune and Serono.

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. Such forward-looking statements include statements regarding the efficacy, safety, and intended utilization of Micromet's product candidates, the conduct and results of future clinical trials, plans regarding regulatory filings, future research, discovery of new product candidates, and clinical trials, and plans regarding partnering activities. Factors that may cause actual results to differ materially include difficulties encountered in integrating merged businesses, the risk that product candidates that appeared promising in early research and clinical trials do not demonstrate safety and/or efficacy in larger-scale or later clinical trials, the risk that the Company will not obtain approval to market its products, the risks associated with reliance on outside financing to meet capital requirements, and the risks associated with reliance on collaborative partners for future revenues under the terms of its existing collaboration agreements, further clinical trials, development and commercialization of product candidates. You are urged to consider statements that include the words "may," "will," "would," "could," "should," "believes," "estimates," "projects," "potential," "expects," "plans," "anticipates," "intends," "continues," "forecast," "designed," "goal," or the negative of those words or other comparable words to be uncertain and forward-looking. These factors and others are more fully discussed in Micromet's periodic reports and other filings with the SEC, including the "Risk Factors" sections of such reports.

Any forward-looking statements are made pursuant to Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended, and, as such, speak only as of the date made. Micromet undertakes no obligation to publicly update any forward-looking statements, whether as a result of new information, future events or otherwise. ###

Contact Information
Investors: Ines-Regina Buth
(760) 494-4235 (US)
+49 (0)89 895277 221 (Europe)
ines.buth@micromet-inc.com

Media Europe: Evelyn Wolf
+49 (0)89 895277 220
evelyn.wolf@micromet-inc.com

Media US: Susan Noonan
(212) 966-3650
susan@sanoonan.com




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