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MedImmune, Micromet cancer deal

June 9, 2003 7:00 AM UTC

Under a co-development deal, Micromet (Munich, Germany) granted MedImmune (MEDI) North American development rights to its MT103 bispecific T cell engager (BiTE) to treat non-Hodgkin's lymphoma (NHL) and chronic lymphocytic leukemia (CLL). MEDI will be responsible for clinical development, registration and commercialization of the product in the region. MEDI also will develop a manufacturing process and supply clinical trial material and commercial quantities. Micromet retains rights to MT103 outside North America and is eligible for milestones and royalties. The compound, which is composed of two antibody fragments that recognize the CD3 receptor on T cells and the CD19 receptor on B lymphocytes, is in two Phase I NHL studies and is set to start a Phase I CLL trial later this year. MedImmune Ventures, a wholly owned venture capital subsidiary of MEDI, will make an investment in Micromet. ...