NEW YORK
(AP) — Micromet Inc. has licensed three experimental cancer antibodies to Amgen
Inc. in a deal that could be worth $990 million.
Amgen agreed to pay Micromet 10 million euros ($14.3
million) upfront and it will reimburse Micromet for research and development.
The drugs will be studied as treatments for solid tumors. Micromet could get as
much as 342 million euros ($487.3 million) in payments if the drugs reach
development milestones, are approved, and reach sales targets. It will also
receive royalty payments on any sales. Including a cash payment at the start of
a second development program and other payments, Micromet could receive 695
million euros ($990.4 million).
Micromet, of Rockville,
Md., develops drugs that are
designed to train the body’s T cells to target tumor cells. Immune therapies
for cancer have become a major area for research because they have the
potential to treat cancer while sparing healthy cells. Traditional chemotherapy
drugs attack tumor cells and healthy cells at the same time.
