ARTICLE | Strategy

Amgen swallows BiTEs

Persistent Amgen persuades Micromet to sell; gains bispecific antibody platform

January 30, 2012 8:00 AM UTC

Amgen Inc. has been interested in acquiring Micromet Inc. for a long time, and finally got the biotech to agree, six months after the companies tested the waters with a discovery and development deal using the smaller biotech's BiTE antibody technology.

The attraction for Amgen was a Phase II compound with evidence of efficacy in a new indication, and the prospect of applying its own capabilities and resources to expand the BiTE platform to new areas. But according to Amgen EVP of R&D Roger Perlmutter, Micromet wasn't biting - at least at first...