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Micromet Expands Committed Equity Financing Facility to $75 Million
Date:12/2/2008

is restricted from engaging in any shorting transaction of Micromet's common stock.

-- Micromet is not obligated to utilize any of the $75 million available under the CEFF and there are no minimum commitments or minimum use penalties. The CEFF agreement does not contain any restrictions on Micromet's operating activities, automatic pricing resets or minimum market volume restrictions.

-- The agreement does not prohibit Micromet from conducting additional debt or equity financings, other than financings similar to the CEFF.

-- In connection with the new CEFF, Micromet issued a warrant to Kingsbridge to purchase up to 135,000 shares of common stock at an exercise price of $4.44 per share, which represents a 10% premium over the average of the closing prices of Micromet's common stock during the five trading days immediately preceding the signing of the agreement. The warrant will become exercisable on June 1, 2009. The warrant will remain exercisable, subject to certain exceptions, until June 1, 2014. In connection with the August 2006 CEFF, the Company issued to Kingsbridge a warrant to purchase up to 285,000 shares of common stock at an exercise price of $3.2145 per share, which warrant is not affected by the new CEFF. The securities issuable in connection with the new CEFF and upon the exercise of the warrants issued to Kingsbridge have not been registered under the Securities Act of 1933 and may not be offered or sold in the United States absent registration under the Securities Act of 1933 and applicable state securities laws or available exemptions from registration requirements. Micromet has agreed to file a registration statement for the resale of the shares of common stock issuable in connection with the new CEFF and the shares of common stock underlying the warrants before January 30, 2009. This press release shall not constitute an offer to sell or the solicitation of an offer to buy these
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SOURCE Micromet, Inc.
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