MedImmune and Micromet Sign Agreement to Co-Develop Treatment for B Cell Tumors
Monday June 9, 6:03 am ET
Partners Also Agree to Create Up To Six New Product Opportunities Based Upon Micromet's Novel Platform of Antibody Derivatives
GAITHERSBURG, Md., and MUNICH, Germany, June 9 /PRNewswire-FirstCall/ -- MedImmune, Inc. (Nasdaq: MEDI - News) and Micromet AG (private) today announced an agreement to jointly develop Micromet's B cell tumor drug, MT103, the most- advanced representative of a novel class of antibody derivatives called Bi- Specific T Cell Engagers (BiTE(TM)). In addition, the parties agreed to create up to six novel drug candidates using Micromet's proprietary BiTE product platform.
"This agreement with Micromet on MT103 and the promising BiTE platform reflects MedImmune's dedication to expanding its oncology pipeline," said James F. Young, Ph.D., MedImmune's president, research and development. "We are excited with the possibility of developing MT103 into a new treatment option for non-Hodgkin lymphoma and chronic lymphocytic leukemia. MT103 may also have application in autoimmune diseases, such as rheumatoid arthritis, myasthenia gravis, and systemic lupus erythematosus. We look forward to working with Micromet to create additional drug candidates using the BiTE technology."
Micromet has initiated two European Phase 1 studies of MT103 in non- Hodgkin lymphoma (NHL) and plans to initiate a Phase 1 study in chronic lymphocytic leukemia (CLL) later this year. The BiTE compound MT103 directs and activates the patients' own T cells (a very potent type of killer cell) against tumor cells. MT103 targets a particular protein (the CD19 antigen), which is present on the large majority of B cells (white blood cells) but not on other types of blood cells or healthy tissues. MT103 may therefore be applied to the treatment of all B cell-related leukemias and lymphomas. The Leukemia & Lymphoma Society had estimated that approximately 53,900 Americans would be diagnosed with NHL in 2002, with approximately 7,000 new cases of CLL each year.
Under the terms of the agreement, Micromet will receive milestone payments based on the successful development, filing, registration and marketing of MT103, as well as royalties on MedImmune's North American sales of the product. Furthermore, MedImmune Ventures, Inc., a wholly owned venture capital subsidiary of MedImmune, will make an investment in Micromet. MedImmune receives Micromet's product rights to MT103 in North America and will assume responsibility for clinical development, registration and commercialization of the product in that region. As part of the agreement, MedImmune will develop the commercial manufacturing process and supply clinical trial material as well as commercial products for all markets. Micromet retains rights to MT103 outside of North America.
In addition to the MT103 co-development agreement, the parties will collaborate to create and develop up to six new products based on the BiTE platform. Micromet is entitled to receive milestones and royalties on future product sales of all resulting BiTE products. In addition, Micromet has the option to obtain exclusive European rights for BiTE compounds based on targets non-proprietary to MedImmune and the option to receive co-promotion rights in Europe for BiTE compounds based on MedImmune's proprietary targets. For each new BiTE molecule MedImmune will cover full development costs up to Phase 1. Micromet will be responsible for the generation of the new BiTE molecules. The parties expect to initiate the first joint BiTE program within the next six months.
Erich Felber, MD, chief executive officer of Micromet, said, "We are pleased to establish a co-development relationship with MedImmune, one of the world's leading biotechnology companies. MedImmune's track record in building product franchises and its commitment to the oncology and antibody arena make them an ideal partner. The partnership not only strengthens our clinical-stage portfolio, but also creates and funds additional opportunities with the BiTE product platform."
Notes to editors
BiTE(TM) (Bispecific T cell Engagers)
Visit micromet.de to download a backgrounder on BiTE(TM) technology.
micromet.de |
