Micromet Serono Collaboration Press Release

The Micromet Serono Collaboration is not publicly filed. Micromet is private, and Serono is a foreign filer in the US.

From the press release of December 7, 2004:

"Serono and Micromet have signed an exclusive collaboration and license agreement for the development and commercialization of Micromet’s fully human monoclonal antibody MT201 (adecatumumab). MT201 is a pan-carcinoma monoclonal antibody directed against the epithelial cell adhesion molecule Ep-CAM. The product is currently being tested in two multicenter phase II clinical trials for the treatment of prostate and metastatic breast cancer. Ep-CAM, the target antigen for MT201, is overexpressed with high frequency on most human carcinomas, suggesting that it may have therapeutic potential in the treatment of a broad range of cancers, including prostate, breast, colon, lung, stomach, pancreatic, head & neck, and ovarian cancer.

Under the terms of the agreement, Micromet will be responsible for completing the ongoing phase II clinical trials, and Serono will take over further development and commercialization of the product. Effective immediately, Serono will be responsible for all development costs. Micromet will receive an initial license fee of US$10 million and additional milestone payments of up to US$138 million if the product is successfully developed and registered worldwide in three or more indications. In addition, Micromet will receive undisclosed royalties based on net sales of the product. Under certain terms and conditions, Micromet may elect to share in the development and commercialization of the product in the US and EU in exchange for a share of profits."