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Micromet, Inc. To Regain Rights to Blinatumomab in North America; Reports Financial Results for the Fourth Quarter and Full Year ended December 31, 2008
Date:3/12/2009

and commercialization of blinatumomab. MedImmune will complete the development of the commercial scale manufacturing process for blinatumomab at its cost. Upon the first marketing approval of blinatumomab in the United States, MedImmune will have a one-time option to reacquire the commercialization rights in North America at pre-defined terms.

Micromet's clinical development activities with blinatumomab in Europe will continue unchanged. With the return of control over the development of blinatumomab in North America, Micromet will be in a position to align the European and US development activities. Micromet will provide an update later this year on its plans for the development of blinatumomab in the United States.

The companies plan to initiate a research program for the development of a new BiTE antibody for the treatment of hematological cancers. MedImmune has an exclusive license to develop and commercialize the new BiTE antibody in North America, while Micromet owns all rights to the new BiTE antibody outside of North America. MedImmune will reimburse Micromet for its expenses in the performance of certain research and preclinical development activities to be conducted by Micromet. In addition, MedImmune will be required to make milestone payments upon the achievement of certain development milestones, and, if it receives marketing approval, to pay a royalty on net sales of the new BiTE antibody in North America.

Summary of Key Clinical Data Presented in 2008:

  • In December, Micromet presented clinical data on blinatumomab at the American Society of Hematology meetings in San Francisco. The presentations included an oral presentation of the phase 1 clinical trial data of blinatumomab in patients with relapsed non-Hodgkin's lymphoma and a poster presentation of the first interim data from its phase 2 clinical trial of blinatumomab in adult patients with acute lym
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SOURCE Micromet, Inc.
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