Micromet Cancer Company Intelligence Report

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Micromet Cancer Company Intelligence Report

Espicom Business Intelligence
Market Briefing May 2006

Espicom publishes over 135 reports on companies developing anti-cancer drugs from the largest blue-chip multinational to smaller specialist organisations - and all phases of development from research to launched products.

For each company you can evaluate:
* Summary: At a glance review of agreements, products and R&D pipeline.
* Overview: Background, ownership structure and research techniques they have developed for drug discovery.
* Agreements: Key details of who the company is collaborating with, and on what.
* Product Portfolio: Product monographs, mechanism of action and indications approved and in development.
* R&D Pipeline: Concise summaries of products in research covering status, indication and clinical trials.
* Financials: An analysis of financial performance including P&L, R&D expenditure and funding. Micromet was originally founded in December 1993, as a spin-off from the Institute for Immunology of the University of Munich. The impetus to form a company came from Professor Gert Riethmüller, Director of the Institute, with his breakthrough results in the area of immunotherapy for cancer patients. In a clinical study, he showed for the first time that cancer patients at a particular stage of their disease could benefit considerably from antibody (Ab)-based therapy. Micromet was founded to further develop this therapeutic approach.

On 6th January 2006, CancerVax and Micromet entered into a definitive merger agreement, which was completed on 5th May 2006, when CancerVax' name changed to Micromet Inc. The company is incorporated in Delaware and Micromet AG has become a wholly-owned subsidiary of Micromet Inc. Research and development activities have been consolidated in Munich. In connection with the merger, CancerVax effected a 1-for-3 reverse stock split of its common stock. Under the terms of the agreement, CancerVax issued common stock to Micromet stockholders such that Micromet stockholders now own approximately 67.5 per cent of the combined company and CancerVax stockholders own approximately 32.5 per cent.

The merger has created a transatlantic, NASDAQ-listed company with a highly differentiated drug-development pipeline focused on oncology, autoimmune and inflammatory diseases, and a strong, proprietary technology base for the development of Ab-based product candidates. The company plans to focus its resources on accelerating the development of its clinical-stage product development programmes and leveraging its strong research and development base and pipeline-generating capabilities related to human Abs, BiTE molecules and single-chain Abs. The company also plans to continue to build on Micromet's track record of successfully establishing drug-development collaborations with major pharmaceutical companies, while retaining substantial commercial rights.

Number of pages - 454

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