Micromet and Bayer Schering Collaboration Pays Off

21 April 2010 (Last Updated April 21st, 2010 18:30)

Micromet and Bayer Schering Pharma AG have announced the achievement of a pre-clinical proof of concept for a BiTE antibody for the treatment of solid tumours, the first milestone under their collaboration agreement. Under the agreement, Micromet is primarily responsible for the pre-cli

Micromet and Bayer Schering Pharma AG have announced the achievement of a pre-clinical proof of concept for a BiTE antibody for the treatment of solid tumours, the first milestone under their collaboration agreement.

Under the agreement, Micromet is primarily responsible for the pre-clinical development of the BiTE antibody, and will collaborate with Bayer through phase I clinical trials.

Bayer is responsible for product development beginning in phase II, and for all manufacturing and commercialisation activities.

In return, Micromet is entitled to receive progress-dependent milestone payments of up to €285m alongside double-digit royalties on net sales and potential reimbursement for R&D expenses.

BiTE antibodies represent a new approach to cancer therapy by directing the body's cytotoxic or cell-destroying T cells against tumour cells.