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Micromet, Inc. Reports Third Quarter 2008 Financial Results
Date:11/6/2008

BETHESDA, Md., Nov. 6 /PRNewswire-FirstCall/ -- Micromet, Inc. (Nasdaq: MITI), a biopharmaceutical company developing novel, proprietary antibodies for the treatment of cancer, inflammation and autoimmune diseases, today announced its financial results for the third quarter and nine months ended September 30, 2008.

Micromet achieved a number of important accomplishments during the third quarter of 2008 representing significant progress in the Company's fundamental development, including the publication of validating clinical trial data of blinatumomab in Science magazine, a significant equity financing transaction, the presentation of clinical data for adecatumumab, and the addition of a Chief Financial Officer to the management team. These developments are summarized below:

-- On August 14, Micromet announced the publication of data from a phase 1 clinical trial of its BiTE(R) antibody blinatumomab (MT103/MEDI-538) in that week's issue of Science magazine (the article is available at http://www.sciencemag.org). The published data from the phase 1 clinical trial demonstrated tumor regression, and in some cases, complete remission, in non-Hodgkin's lymphoma patients who had relapsed after previous treatments and were considered to have incurable disease.

-- On September 2, Micromet announced the appointment of Barclay A. Phillips as Senior Vice President and Chief Financial Officer. Mr. Phillips had served as a member of the Company's board of directors since 2000, and was previously the chair of the nominating & corporate governance committee and a member of the audit committee.

-- On September 13, Micromet presented interim data from a phase 1 clinical trial investigating its anti-EpCAM antibody adecatumumab (MT201) in combination with the chemotherapeutic docetaxel at the 2008 meeting of the European Society of Medical Oncology (ESMO) held in Stockholm, Sweden. The data showed
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SOURCE Micromet, Inc.
Copyright©2008 PR Newswire.
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