Notice: Function _load_textdomain_just_in_time was called incorrectly. Translation loading for the wordpress-seo domain was triggered too early. This is usually an indicator for some code in the plugin or theme running too early. Translations should be loaded at the init action or later. Please see Debugging in WordPress for more information. (This message was added in version 6.7.0.) in /var/www/html/wp-includes/functions.php on line 6260 Amgen Acquires Micromet | Contract Pharma

What are you searching for?

Sign in
Breaking News

Amgen Acquires Micromet

Gains Phase II cancer drug and BiTE antibody technology platform

Author Image

By: Tim Wright

Editor-in-Chief, Contract Pharma

Amgen has entered an agreement to acquire biotechnology company Micromet, for approximately $1.2 billion in cash. The company was founded in Germany with its R&D center in Munich and headquarters in Rockville, MD.

The acquisition includes blinatumomab, a Bispecific T cell Engager (BiTE) antibody in Phase II development for acute lymphoblastic leukemia (ALL). Blinatumomab is also in clinical development for the treatment of non-Hodgkin’s lymphoma (NHL), and could have applications in other hematologic malignancies. Amgen also gains Micromet’s BiTE antibody technology, along with potential milestone and royalty payments from existing licensees of BiTE and other technologies, and Micromet’s Munich site, which will operate as an Amgen R&D center of excellence.  

“The acquisition of Micromet is an opportunity to acquire an innovative oncology asset with global rights and a validated technology platform with broad potential clinical applications,” said Kevin Sharer, chairman and chief executive officer at Amgen. “Blinatumomab will serve as an important complement to our oncology pipeline and is representative of our corporate strategy, which is focused on developing and successfully commercializing therapeutics to treat patients with grievous illness.”

“We believe that this transaction represents an attractive opportunity for Micromet, its stockholders and cancer patients,” said Christian Itin, Ph.D., Micromet’s president and chief executive officer. “Amgen’s extensive resources and experience in the development and commercialization of biologics promise to speed blinatumomab’s path to market, expand its development across a broader range of B-cell malignancies and maximize the full potential of our novel BiTE technology.”

Add us as a preferred source on Google

Get the latest Contract Pharma news, insights and analysis in your Google Search and AI experiences.

Add Contract Pharma as a preferred source on Google (opens in a new tab)

Keep Up With Our Content. Subscribe To Contract Pharma Newsletters

Topics