Boehringer Ingelheim and Micromet have announced a new collaboration agreement for the research, development and commercialisation of a new BiTE antibody for the treatment of multiple myeloma.

BiTE antibodies are designed to direct the body’s cytotoxic, or cell-destroying, T cells against tumour cells and represent a new therapeutic approach to myeloma, which remains almost incurable.

Micromet is responsible for the discovery of the BiTE antibody and will jointly conduct further preclinical studies with Boehringer Ingelheim.

Boehringer Ingelheim will be responsible for all manufacturing activities, clinical development and worldwide commercialisation subject to Micromet’s co-promotion right in the USA.

Under the terms of the agreement, Boehringer Ingelheim will pay Micromet an upfront cash payment of $6.6m. Micromet is eligible to receive development and regulatory milestone payments of up to $66m and tiered low double-digit royalties on product sales outside the USA.