This looked as though it might repay further investigation, although the Curis website is singularly uninformative..
CAMBRIDGE, Mass. USA & MUNICH, Germany, Jul 3, 2001 (BW HealthWire) -- Curis, Inc. (NASDAQ: CRIS) and Micromet AG, Martinsried, Germany have entered into an extensive agreement covering research, product development, and technology exchange. Curis transfers its intellectual property portfolio and licenses in the field of single chain antibody technology to Micromet. During the current year Curis will receive US$14 million in an up-front payment in cash, and a planned equity participation in Micromet. There will be additional royalties and profit sharing payments to both Curis and Micromet from the development of therapeutic products.
Furthermore, Curis receives exclusive rights to Micromet's single cell genomics technology (SCAGE) for the field of stem cell and genomic research. Data from this joint discovery program will be integrated into a database whereby both companies will mine targets suitable for antibody drug development. The Companies will co-develop selected therapeutic antibodies, while all rights to small molecule targets will rest with Curis, and revenue from third party usage will be shared by both companies. There will be additional royalties and profit sharing to both Curis and Micromet from stem cell genomics and database research.
"Curis' collaboration and strategic alliance with Micromet, AG combines our complementary expertise, technology, product platforms in developmental biology and small molecule discovery capacities unlocking tremendous potential," said Dan Passeri, Senior Vice President, Corporate Development and Strategic Planning. "It represents an important strategic development for Curis to become a leader in regenerative medicine. Micromet consolidates its position as a dominant force in the area of single chain antibody drugs," added Mr. Passeri.
"This extensive strategic alliance captures the synergies generated by Micromet's expertise in discovering and developing innovative antibody therapeutics as drug candidates with Curis' strength in mining the genome to generate validated targets," said Doros Platika, M.D., President and Chief Executive Officer of Curis. "In many instances, antibody agonists and antagonists would be much easier to produce and work with in developing a drug candidate than the actual protein ligand regulating these pathways. We believe Micromet's SCAGE technology will be one of the critical keys to unlocking the power of stem cell genomics and drug discovery."
Christian Itin, Vice-President, Corporate Development at Micromet AG, reiterated that "combining SCAGE with Curis' stem cell expertise will develop a unique platform to analyze the earliest stages of stem cell differentiation. Furthermore, Micromet's expertise in the design and development of innovative drug formats will start releasing the value inherent in the intellectual property in the area of single-chain antibody technology. Based on this technology, Micromet has already established the BiTE(TM) ("Bispecific T-cell engagers") drug format for elimination of pathogenic cells in cancer, autoimmune and inflammatory disease. Further drug formats will be developed for modulating the activity of normal and aberrant cell function."
Curis, Inc. is developing products based on technologies in the emerging field of regenerative medicine. The Company is combining insights gained through the study of developmental biology with high-throughput screening capabilities, proteins, cells and biocompatible materials to facilitate the development of new regenerative medicine therapies. For more information, please visit the Curis web site at www.curis.com.
Micromet AG, a privately held, Munich-based biotechnology company, designs and develops novel antibody-based drugs for treatment of cancer, autoimmune and inflammatory disease. The Company has established the BiTE(TM) technology ("Bispecific T cell engagers"), a unique drug format that leverages the outstanding cytotoxic potential of T cells, the most powerful `killer cells' of the human immune system. Micromet's pipeline of drug candidates includes BiTE(TM) molecules as well as fully human antibodies, with two products now approaching clinical Phase I trials. The Company has integrated drug development capabilities. Micromet has investments from leading international life science investors. For more information go to www.micromet.de |
