Amgen to Buy Micromet
Thousand Oaks/Munich - Bling bling for blinatumomab. It is a compliment for the European life sciences scene and sad news at the same time. Amgen Inc., the world's largest biotechnology company, agreed to buy Micromet Inc., an antibody specialist with its research and development centre in Munich. The deal is worth EUR880m, with micromet's stockholders getting 8 dollars per share.
The treasure Amgen is after is blinatumomab, a bispecific antibody which is currently being tested against acute lymphoblastic leukaemia (ALL) and non-Hodgkin's lymphoma. In a Phase II trial published in June 2011, nine of 12 patients on blinatumomab reached complete remission from ALL. Other antibodies with the BITE-technology being evaluated in clinical studies comprise compounds against solid tumours, gastrointestinal cancer and prostate cancer. Micromet's market share has increased 23 percent in the past 12 months. The bispecific antibodies have gained some renown in the scientific community, too. Only two weeks ago Micromet entered into a development Agreement with the renowned US National Cancer Institute (more...)