Micromet Gets $14M Upfront From Amgen For BiTE Technology

The world's largest biotech is investing in the research of BiTE antibodies against three undisclosed solid tumor targets.

Micromet Inc. has found another suitor for its BiTE antibody technology platform. In a deal announced July 11, the biotech will collaborate with Amgen Inc. to research and develop three solid tumor targets using Micromet's proprietary platform.

Micromet spokesperson Jennifer Neiman said the two companies are not disclosing the targets, which were provided by Amgen, nor the types of cancer that they will be hoping to treat. Bethesda, MD-based Micromet's BiTE (Bispecific T-Cell Engager) antibodies mobilize cytotoxic T-cells, causing them to engage usually unrecognizable tumor cells and cause apoptosis. The biotech's approach is novel because antibodies usually cannot engage T cells since the cells lack receptors needed for binding with antibodies.

Under the terms of the agreement, Amgen will pay €10 million ($14 million) upfront, plus Micromet is eligible to receive €342 million ($479 million) in clinical and commercial milestones for the first product that is developed under the collaboration. The terms are similar to other deals that Micromet has struck with Big Pharma. Amgen has the right to pursue development of two of the three targets. Micromet will receive another €25 million ($35.1 million) payment should the antibodies be advanced to IND. Amgen will pay a comparable amount in milestones for the second product. Amgen will also cover all research and development costs.

Micromet will be responsible for the discovery and pre-clinical development of the BiTE antibodies, while Amgen will lead the clinical development, manufacturing, and commercialization.

It's no wonder Amgen is interested in the technology; other products in the cancer immunotherapy market include blockbusters such as Rituxan (rituximab), Herceptin (trastuzumab) and Avastin (bevacizumab). At the beginning of the year, Amgen acquired OncoVex, an oncolytic immunotherapy delivered by intratumoral injection that Amgen gained through its acquisition of BioVex Group (Also see "Amgen Takes Out Cancer Vaccine Developer BioVex In Potential $1B Deal" - Pink Sheet, 24 Jan, 2011.).

OncoVex is an oncolytic virus technology engineered from the herpes simplex virus type 1. The oncolytic virus replicates only within tumor cells, producing cell lysis within tumors while leaving nearby healthy cells unharmed. The therapy is also intended to provoke an ongoing immune response that kills cancer cells elsewhere in the body.

Amgen also has Phase III drugs in development for ovarian and prostate cancer. Earlier this year, Amgen halted AMG 102 that was being developed for various cancers due to its lack of promise.

Micromet Banks On BiTE Technology

The biotech has four other collaborations in place for its BiTE technology, including deals with French pharma Sanofi, AstraZeneca's MedImmune, and Boehringer Ingelheim. The deal with Sanofi, struck in October 2009, gave Micromet a $12 million upfront and is for the development of preclinical BiTE antibodies for solid tumors (Also see "Micromet Gets $12M Upfront From Sanofi For Discovery-Stage Oncology Antibody" - Pink Sheet, 29 Oct, 2009.).

Micromet also has two wholly-owned BiTE antibodies in clinical development. Its lead product is blinatumomab, currently in development for acute lymphoblastic leukemia. The company released interim results from a pivotal Phase II study earlier this year at the European Hematology Association Meeting in London that showed a high level of response in a majority of patients.

Blinatumomab was originally partnered with MedImmune, but the collaboration was phased out over a number of months (Also see "Micromet Reacquires Full North American Rights To Blinatumomab" - Pink Sheet, 5 Nov, 2009.). MedImmune and Micromet still have a collaboration in place for another antibody that is about to enter Phase I.

-Lisa LaMotta ([email protected])