Micromet and Boehringer Ingelheim join forces to develop multiple myeloma BiTE antibody
Ingelheim/Bethesda -Boehringer Ingelheim (BI) and Micromet Inc. will jointly develop a BITE (bi-specific T-cell engager) antibody for the treatment of multiple myeloma. According to the collaboration agreement for the research, development and commercialisation of the bifunctional antibody announced on Wednesday, Micromet will be responsible for the discovery, and will jointly conduct pre-clinical studies of the drug candidate with BI. Micromet’s pharma partner will be responsible for all manufacturing activities, clinical development and worldwide commercialisation, subject to Micromet’s co-promotion right in the US. Micromet will receive an upfront payment of 5 million euros from its partner, and milestones of up to 50 million euros plus low double-digit royalties on product sales outside the US. While Micromet will reimburse a defined amount of preclinical and other costs for its US sales, BI will be responsible for all other payments. BITEs target tumor cells by binding to tumour-specific antigens. They activate T killer cells against the tumour cells by binding to the CD3/CD19 moiety on the surface of the cytotoxic cells.