2007-03-16

Micromet and TRACON Pharmaceuticals Sign Exclusive Worldwide License Agreement to Develop and Commercialize D93, a Humanized Antibody for Cancer Treatment


Carlsbad, California (ots/PRNewswire) -

- Start of Phase 1 Clinical Trial Planned for the Second Half ofThis Year

Micromet, Inc. (Nasdaq: MITI), a biopharmaceutical company focusedon the development of novel and proprietary antibody-based productsfor cancer, inflammatory and autoimmune diseases, and TRACONPharmaceuticals, Inc., a privately held biopharmaceutical companyfocused on the development of products for cancer treatment,including agents that inhibit angiogenesis, today announced anagreement granting TRACON exclusive worldwide rights to develop andcommercialize Micromet's D93 antibody with a novel mode of action forthe treatment of cancer. TRACON Pharmaceuticals was founded in 2005by Paramount BioSciences, LLC.

"TRACON's management team, with its specific expertise in thedevelopment of antibodies and small molecules that targetangiogenesis, is an excellent partner for the development of D93 andwe are looking forward to the start of clinical trials planned forthe second half of this year," said Christian Itin, PhD, Presidentand Chief Executive Officer of Micromet, Inc.

D93 is a recombinant humanized IgG1 monoclonal antibody thatinhibits angiogenesis, tumor cell growth and metastasis by targetingcleaved collagen, which is predominantly produced in theextracellular matrix of tumors. Preclinical studies indicate that D93has the potential to treat different types of cancer as a singleagent and in combination with chemotherapeutics. Because of itsanti-angiogenic activity, D93 may also provide a new therapeuticapproach for other diseases involving neo-vascularization such as wetage-related macular degeneration or proliferative diabeticretinopathy. In 2006, Micromet filed an investigational new drug(IND) application with the U.S. Food and Drug Administration forclinical testing of D93 in patients with cancer.

"D93 is a first-in-class humanized antibody that will be developedfor the treatment of a variety of cancers to complement othercurrently available therapies," said Charles P. Theuer MD, PhD,President and Chief Executive Officer of TRACON Pharmaceuticals.

Under the terms of the agreement, TRACON will be responsible forall development and commercial activities. TRACON plans to initiate aphase 1 clinical trial in the second half of this year. Under theterms of the agreement, TRACON will pay Micromet upfront andmilestone payments of more than US$100 million, if D93 issuccessfully developed and commercialized. In addition, Micromet willreceive royalties on worldwide sales of D93.

About TRACON Pharmaceuticals

TRACON Pharmaceuticals (www.traconpharma.com) is a privately heldbiopharmaceutical company focused on the development of products forcancer treatment, including agents that inhibit angiogenesis. TRACONaddresses unmet needs in this arena with product candidates that willcomplement existing therapies. The company's product candidates eachtarget novel disease pathways. TRC105 is an antibody that binds CD105to inhibit endothelial cell proliferation in the tumor vasculature(IND expected in mid-2007). TRC102 is a small molecule that reversesresistance to chemotherapeutics that is being evaluated in a phase 1trial and TRC101 is a nanoliposome embedded with ceramide used toimprove the activity and delivery of chemotherapeutics. By developingand commercializing novel products in underserved indications, TRACONwill maximize patient benefit and enhance shareholder value.

About Paramount BioSciences

Paramount BioSciences, LLC (www.paramountbio.com) is a leadingdrug development and healthcare investment firm focused on thein-licensing of novel therapeutics, and the formation of newbiotechnology companies.

About Micromet, Inc.

Micromet, Inc. (www.micromet-inc.com) is a biopharmaceuticalcompany focusing on the development of novel, proprietaryantibody-based products for cancer, inflammatory and autoimmunediseases. Two product candidates are currently in clinical trials.MT103 (MEDI-538), which is the first product candidate based onMicromet's novel BiTE(R) product development platform, is beingevaluated in a phase 1 clinical trial for the treatment of patientswith non-Hodgkins lymphoma. The BiTE(R) product development platformis based on a unique, antibody-based format that leverages thecytotoxic potential of T cells, the most powerful 'killer cells' ofthe human immune system. Adecatumumab (MT201), a recombinant humanmonoclonal antibody which targets EpCAM expressing tumors, hascompleted two phase 2a clinical trials, one in patients with breastcancer and the other in patients with prostate cancer. In addition, aphase 1b trial evaluating the safety and tolerability of MT201 incombination with docetaxel is currently ongoing in patients withmetastatic breast cancer. Micromet has established collaborationswith MedImmune and Merck Serono.

Forward-Looking Statements

This release contains certain forward-looking statements thatinvolve risks and uncertainties that could cause actual results to bematerially different from historical results or from any futureresults expressed or implied by such forward-looking statements. Suchforward-looking statements include statements regarding the intendedutilization of product candidates, the conduct and results of futureclinical trials, plans regarding regulatory filings, future research,discovery of new product candidates, and clinical trials, andpartnering activities. Factors that may cause actual results todiffer materially include the risk that product candidates thatappeared promising in early research and clinical trials do notdemonstrate safety and/or efficacy in larger-scale or later clinicaltrials, the risks associated with regulatory processes, the risksassociated with reliance on outside financing to meet capitalrequirements, and the risks associated with reliance on collaborativepartners for future revenues under the terms of its existingcollaboration agreements, and for further pre-clinical and clinicalstudies, development and commercialization of product candidates. Youare urged to consider statements that include the words "may,""will," "would," "could," "should," "believes," "estimates,""projects," "potential," "expects," "plans," "anticipates,""intends," "continues," "forecast," "designed," "goal," or thenegative of those words or other comparable words to be uncertain andforward-looking. These factors and others are more fully discussed inMicromet's periodic reports and other filings with the SEC, includingthe "Risk Factors" sections of such reports.

Any forward-looking statements are made pursuant to Section 27A ofthe Securities Act of 1933, as amended, and Section 21E of theSecurities Exchange Act of 1934, as amended, and, as such, speak onlyas of the date made. Micromet and TRACON undertake no obligation topublicly update any forward-looking statements, whether as a resultof new information, future events or otherwise.

Web site: http://www.micromet-inc.com http://www.traconpharma.com http://www.paramountbio.com

ots Originaltext: Micromet, Inc.Im Internet recherchierbar: http://www.presseportal.de

Contact:Micromet - Chris Schnittker, SVP & CFO, +1-760-494-4238, christopher.schnittker@micromet-inc.com; Investors, Susan Noonan, +1-212-966-3650, susan@sanoonan.com; Media, Pat Garrison, +1-917-322-2567, pgarrison@rxir.com; Investors Europe, Ines-Regina Buth, +49-0-30-2363-2768, ines@akampion.com, Media Europe, Evelyn Wolf, +49-0-89-4445-2099, evelyn@akampioncom; TRACON - Tara Crosson, +1-212-554-4351, tcrosson@paramountbio.com; Delia Alvarez, +1-858-550-0780 ext. 232, dvaldovinos@traconpharma.com

Micromet, Inc.

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Micromet and TRACON Pharmaceuticals Sign Exclusive Worldwide License Agreement to Develop and Commercialize D93, a Humanized Antibody for Cancer Treatment

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