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Article: Bayer pays Micromet $6M for option on Ab.(Micromet license agreement with Bayer Schering Pharma AG)(Brief article)
- Article from:
- Pharma Marketletter
- Article date:
- January 19, 2009
CopyrightCOPYRIGHT 2009 Marketletter Publications Ltd. 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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Micromet, a US biopharmaceutical company focused on cancer, has signed an option, collaboration and license agreement with Bayer Schering Pharma AG granting the German drug major the exclusive option to obtain a license to one of its preclinical BiTE antibodies against an undisclosed oncology target.
Under the terms of the deal, Bayer will pay Micromet 4.5 million euros ($6.0 million) to secure a one-year option on a specific BiTE antibody, which Bayer may license prior to January 5, 2010, through the additional payment of an exercise fee.
The option would trigger a formal collaboration between the two firms on the development of the antibody through ...