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Article: Micromet Enters Into Agreement for Solid Tumor BiTE Antibody with Bayer Schering Pharma AG.
- Article from:
- PR Newswire
- Article date:
- January 12, 2009
CopyrightCOPYRIGHT 2009 PR Newswire Association LLC. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
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BETHESDA, Md., Jan. 12 /PRNewswire-FirstCall/ -- Micromet, Inc. , a biopharmaceutical company developing novel, proprietary antibodies for the treatment of cancer, inflammation and autoimmune diseases today announced the signing of an option, collaboration and license agreement with Bayer Schering Pharma AG, Germany, under which Bayer Schering Pharma has the exclusive option to obtain a license to one of Micromet's preclinical BiTE antibodies against an undisclosed oncology target.
Under the terms of the agreement, Bayer Schering Pharma will pay Micromet a Euro 4.5 million fee (approx. US$ 6 million) to secure a one year option on a specific BiTE antibody. ...