Micromet and TRACON Pharmaceuticals Sign Exclusive Worldwide License Agreement to Develop and Commercialize D93, a Humanized Antibody for Cancer Treatment

Geschrieben am 16-03-2007

Carlsbad, California (ots/PRNewswire) -

- Start of Phase 1 Clinical Trial Planned for the Second Half of
This Year

Micromet, Inc. (Nasdaq: MITI), a biopharmaceutical company focused
on the development of novel and proprietary antibody-based products
for cancer, inflammatory and autoimmune diseases, and TRACON
Pharmaceuticals, Inc., a privately held biopharmaceutical company
focused on the development of products for cancer treatment,
including agents that inhibit angiogenesis, today announced an
agreement granting TRACON exclusive worldwide rights to develop and
commercialize Micromet's D93 antibody with a novel mode of action for
the treatment of cancer. TRACON Pharmaceuticals was founded in 2005
by Paramount BioSciences, LLC.

"TRACON's management team, with its specific expertise in the
development of antibodies and small molecules that target
angiogenesis, is an excellent partner for the development of D93 and
we are looking forward to the start of clinical trials planned for
the second half of this year," said Christian Itin, PhD, President
and Chief Executive Officer of Micromet, Inc.

D93 is a recombinant humanized IgG1 monoclonal antibody that
inhibits angiogenesis, tumor cell growth and metastasis by targeting
cleaved collagen, which is predominantly produced in the
extracellular matrix of tumors. Preclinical studies indicate that D93
has the potential to treat different types of cancer as a single
agent and in combination with chemotherapeutics. Because of its
anti-angiogenic activity, D93 may also provide a new therapeutic
approach for other diseases involving neo-vascularization such as wet
age-related macular degeneration or proliferative diabetic
retinopathy. In 2006, Micromet filed an investigational new drug
(IND) application with the U.S. Food and Drug Administration for
clinical testing of D93 in patients with cancer.

"D93 is a first-in-class humanized antibody that will be developed
for the treatment of a variety of cancers to complement other
currently available therapies," said Charles P. Theuer MD, PhD,
President and Chief Executive Officer of TRACON Pharmaceuticals.

Under the terms of the agreement, TRACON will be responsible for
all development and commercial activities. TRACON plans to initiate a
phase 1 clinical trial in the second half of this year. Under the
terms of the agreement, TRACON will pay Micromet upfront and
milestone payments of more than US$100 million, if D93 is
successfully developed and commercialized. In addition, Micromet will
receive royalties on worldwide sales of D93.

About TRACON Pharmaceuticals

TRACON Pharmaceuticals (www.traconpharma.com) is a privately held
biopharmaceutical company focused on the development of products for
cancer treatment, including agents that inhibit angiogenesis. TRACON
addresses unmet needs in this arena with product candidates that will
complement existing therapies. The company's product candidates each
target novel disease pathways. TRC105 is an antibody that binds CD105
to inhibit endothelial cell proliferation in the tumor vasculature
(IND expected in mid-2007). TRC102 is a small molecule that reverses
resistance to chemotherapeutics that is being evaluated in a phase 1
trial and TRC101 is a nanoliposome embedded with ceramide used to
improve the activity and delivery of chemotherapeutics. By developing
and commercializing novel products in underserved indications, TRACON
will maximize patient benefit and enhance shareholder value.

About Paramount BioSciences

Paramount BioSciences, LLC (www.paramountbio.com) is a leading
drug development and healthcare investment firm focused on the
in-licensing of novel therapeutics, and the formation of new
biotechnology companies.

About Micromet, Inc.

Micromet, Inc. (www.micromet-inc.com) is a biopharmaceutical
company focusing on the development of novel, proprietary
antibody-based products for cancer, inflammatory and autoimmune
diseases. Two product candidates are currently in clinical trials.
MT103 (MEDI-538), which is the first product candidate based on
Micromet's novel BiTE(R) product development platform, is being
evaluated in a phase 1 clinical trial for the treatment of patients
with non-Hodgkins lymphoma. The BiTE(R) product development platform
is based on a unique, antibody-based format that leverages the
cytotoxic potential of T cells, 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 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 and Merck Serono.

Forward-Looking Statements

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. Such
forward-looking statements include statements regarding the intended
utilization of product candidates, the conduct and results of future
clinical trials, plans regarding regulatory filings, future research,
discovery of new product candidates, and clinical trials, and
partnering activities. Factors that may cause actual results to
differ materially include the risk that product candidates that
appeared promising in early research and clinical trials do not
demonstrate safety and/or efficacy in larger-scale or later clinical
trials, the risks associated with regulatory processes, the risks
associated with reliance on outside financing to meet capital
requirements, and the risks associated with reliance on collaborative
partners for future revenues under the terms of its existing
collaboration agreements, and for further pre-clinical and clinical
studies, development and commercialization of product candidates. You
are urged to consider statements that include the words "may,"
"will," "would," "could," "should," "believes," "estimates,"
"projects," "potential," "expects," "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
Micromet's periodic reports and other filings with the SEC, including
the "Risk Factors" sections of such reports.

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 and TRACON undertake 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.
Im Internet recherchierbar: http://www.presseportal.de

Micromet - Chris Schnittker, SVP & CFO, +1-760-494-4238,
christopher.schnittker@micromet-inc.com; Investors, Susan Noonan,
+1-212-966-3650, susan@sanoonan.com; Media, Pat Garrison,
+1-917-322-2567, pgarrison@rxir.com; Investors Europe, Ines-Regina
Buth, +49-0-30-2363-2768, ines@akampion.com, Media Europe, Evelyn
Wolf, +49-0-89-4445-2099, evelyn@akampioncom; TRACON - Tara Crosson,
+1-212-554-4351, tcrosson@paramountbio.com; Delia Alvarez,
+1-858-550-0780 ext. 232, dvaldovinos@traconpharma.com


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