Bethesda, Maryland (ots/PRNewswire) -
- Company Expects Four Antibodies in Clinical Development by End
of 2007 -
Micromet, Inc. (Nasdaq: MITI), a biopharmaceutical company
focusing on the development of novel, proprietary antibody-based
products for the treatment of cancer, inflammatory and autoimmune
diseases, announced today the promotion of Carsten Reinhardt, M.D.
from Senior Vice President of Clinical Development to Senior Vice
President and Chief Medical Officer. Dr. Reinhardt joined Micromet
in 2005 from Roche (Basel, Switzerland) where he was the
International Medical Leader of the Herceptin(R) program. As Chief
Medical Officer, he will continue to be responsible for the overall
clinical development of Micromet's product candidates.
Micromet expects to initiate clinical trials for one additional
antibody program by the end of the year, bringing the total number of
antibodies in clinical development to four. In addition, up to four
preclinical antibodies are anticipated to reach the clinical stage
during 2008 and 2009. Building on its clinically validated next
generation antibody technology platform known as BiTE(R) molecules,
Micromet will continue to broaden its pipeline with a focus on
cancer, inflammation and autoimmune diseases.
"Carsten has built an outstanding clinical development group at
Micromet, and has demonstrated the leadership and expertise we need
in order to take advantage of the opportunities arising from our
strong development pipeline," said Christian Itin, Ph.D., President
and Chief Executive Officer of Micromet. "Thanks to Carsten and his
team, we are well positioned to expand our clinical stage pipeline
based on our BiTE antibody technology over the next two years, while
continuing to advance our antibody product candidates that are
currently in clinical trials."
About Micromet, Inc.
Micromet, Inc. is a biopharmaceutical company focusing on the
development of novel, proprietary antibody-based products for cancer,
inflammation and autoimmune diseases. Three product candidates are
currently in clinical trials. MT103/MEDI-538, which is the first
product candidate based on Micromet's novel BiTE(R) antibody product
development platform, is being evaluated in a phase 1 clinical trial
for the treatment of patients with non-Hodgkin's lymphoma. The BiTE
product development platform is based on a unique, antibody-based
format that leverages the cytotoxic potential of T cells, widely
recognized as the most powerful 'killer cells' of the human immune
system. Adecatumumab (MT201), a recombinant human monoclonal antibody
which targets EpCAM expressing tumors, has completed two phase 2a
clinical trials, one in patients with breast cancer, which has shown
activity in patients with high EpCAM expression, 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. Micromet has established collaborations with MedImmune, Inc.
for MT103/MEDI-538 and Merck Serono for adecatumumab (MT201). Our
third clinical stage product candidate is D93, also known as TRC093,
a first-in-class humanized monoclonal antibody that inhibits
angiogenesis and tumor cell growth by binding cleaved collagen.
D93/TRC093 is being developed by TRACON Pharmaceuticals, Inc. in
oncology and Age-Related Macular Degeneration (AMD) pursuant to a
license agreement under which we have granted TRACON worldwide rights
to develop and commercialize D93/TRC093. In addition, Micromet has
established a collaboration with Nycomed for the development and
commercialization of MT203, Micromet's human antibody neutralizing
the activity of GM-CSF, which may be important in the treatment of
inflammatory diseases, such as rheumatoid arthritis.
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.
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 collaboration partners 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 collaboration partners, including
MedImmune, Merck Serono and Nycomed, for the funding or conduct of
further development and commercialization activities relating to our
product candidates. You are urged to consider statements that include
the words "ongoing", "may", "will", "would", "could", "should",
"believes", "estimates", "projects", "potential", "expects",
"suggests", "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 our periodic reports
and other filings with the SEC.
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, Inc. undertakes no obligation to
publicly update any forward-looking statements, whether as a result
of new information, future events or otherwise.
Web site: http://www.micromet-inc.com
ots Originaltext: Micromet, Inc.
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