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Article: Micromet, Nycomed GM-CSF Deal Could Be Worth [euro]125M.
- Article from:
- BIOWORLD Today
- Article date:
- November 3, 2009
CopyrightCOPYRIGHT 2009 A Thomson Healthcare Company. 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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West Coast Editor
Micromet Inc.'s potential C120 million (US$161 million) development deal with Nycomed A/S - plus C5 million up front - jump-starts the preclinical MT203 program, giving the GM-CSF neutralizer better odds against a similar antibody already in Phase I/II trials against rheumatoid arthritis by KaloBios Pharmaceuticals Inc.
Shares of Micromet (NASDAQ:MITI) jumped 12.2 percent on the news, closing Thursday at $2.75, up 30 cents.
MT203, like privately held KaloBios' unpartnered KB002, targets the cytokine granulocyte macrophage colony-stimulating factor, and MT203 expected to enter the clinic next year. Both antibodies could work ...