MITI signs CRADA with NCI for expanded Blinatumomab trials. No specifics on funding, but NCI might be picking up 40% of the trial cost. This would give MITI another 2 quarters of life... They are just over 2 years of cash today.
Best,
graham
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phx.corporate-ir.net
ROCKVILLE, Md.--(BUSINESS WIRE)--Jan. 9, 2012-- Micromet (Nasdaq: MITI) announced today that it has entered into a Cooperative Research and Development Agreement (CRADA) with the National Cancer Institute (NCI) to expand development of the Company’s lead product candidate blinatumomab in patients with acute lymphoblastic leukemia (ALL) and various sub-types of lymphoma. Blinatumomab is the first of a new class of agents called BiTE® antibodies, designed to harness the body's T cells to kill cancer cells.
Under the terms of the agreement, the NCI and Micromet will collaborate on a series of clinical trials to evaluate the safety and efficacy of blinatumomab in patients with B-cell derived hematologic malignancies. The initial NCI-sponsored studies will explore blinatumomab’s utility as a first-line treatment for patients newly diagnosed with ALL, older patients with ALL, and patients with Waldenstrom’s macroglobulinemia. Additional studies will be designed based on the agreement of both parties.
“We are very pleased that the NCI has chosen to support the clinical development of blinatumomab,” said Jan Fagerberg, M.D., Ph.D., Micromet’s Senior Vice President and Chief Medical Officer. “This partnership will enable us to further explore blinatumomab’s clinical potential across a wide range of blood cancers and will expand leading U.S. investigators’ experience with the drug." |
