Micromet and Nycomed Begin Formal Preclinical Safety Studies for Antibody MT203 for Inflammatory and Autoimmun... ( Partners Expect Program to Advance ...)

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Micromet and Nycomed Begin Formal Preclinical Safety Studies for Antibody MT203 for Inflammatory and Autoimmune Diseases

Date:6/24/2008

Partners Expect Program to Advance to the Clinic Within a Year; Studies

Generate Milestone Payment to Micromet

BETHESDA, Md., and ZURICH, Switzerland, June 24 /PRNewswire/ -- Micromet, Inc. (Nasdaq: MITI) and Nycomed today announced the initiation of formal preclinical safety studies for the anti-GM-CSF human antibody MT203. Micromet received $775,000 (500,000 euros) from Nycomed for the achievement of this milestone.

Under a 2007 agreement between the two companies, Micromet and Nycomed develop MT203, a fully human anti-GM-CSF antibody that may be useful for the treatment of various inflammatory and autoimmune diseases. Preclinical studies support MT203's development for the treatment of rheumatoid arthritis and several other indications, including multiple sclerosis, psoriasis, asthma and chronic obstructive pulmonary disease.

"Data on MT203 remain encouraging and we are pleased to reach this important developmental milestone," said Jens Hennecke, Micromet's Vice President of Business Development. "The MT203 program is well on track and we are looking forward to advancing it into the clinic within a year."

"Within our partnership, Micromet has continued to deliver encouraging data on MT203 related to the treatment of inflammatory and autoimmune diseases," said Anders Ullman, Nycomed's Executive Vice President Research and Development. "MT203 represents an important asset in our early stage pipeline."

About Nycomed (http://www.nycomed.com)

Nycomed is a privately owned pharmaceutical company that provides medicines for hospitals, specialists and general practitioners, as well as over-the-counter medicines in selected markets. It
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Micromet and Nycomed Begin Formal Preclinical Safety Studies for Antibody MT203 for Inflammatory and Autoimmun...( Partners Expect Program to Advance ...),Health