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Mar 16, 2007

Micromet Could Pay $100M to Tracon For Anticancer Mab

  • Micromet granted Tracon exclusive, worldwide rights to develop and commercialize one of its antibodies, which has a novel mode of action for treatment of cancer. D93 is a recombinant humanized IgG1 Mab that inhibits angiogenesis, tumor cell growth, and metastasis by targeting cleaved collagen, which is predominantly produced in the extracellular matrix of tumors.

    Tracon will pay Micromet upfront as well as certain milestones, potentially totalling more than $100 million. In addition, Micromet will receive royalties on worldwide sales of D93.

    Tracon plans to initiate a Phase I trial in the second half of this year. It will be responsible for all development and commercial activities.

    According to Micromet, preclinical studies indicate that D93 has the potential to treat different types of cancer as a single agent and in combination with chemotherapeutics. Because of its antiangiogenic activity, D93 may also provide a new therapeutic approach for other diseases involving neo-vascularization, such as wet age-related macular degeneration or proliferative diabetic retinopathy.



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