Bethesda, MD-based Micromet has closed its previously-announced $40 million private placement financing. Index Ventures Growth, Abingworth, DAFNA Capital Management and Merlin Nexus participated in the round. Micromet is developing antibodies for the treatment of cancer, inflammation and autoimmune diseases.
"We are very pleased to have completed this financing under these challenging market conditions, and we were gratified by the strong support of Micromet and the significant interest of the investors in this private placement," said Micromet's President and CEO, Christian Itin. "The proceeds from this financing will be used to advance our clinical antibody programs and to broaden our BiTE antibody pipeline."
- here's the Micromet release [1]
Related Articles:
Micromet's blinatumomab shows promise in Phase I [2]
Micromet, Tracon ink $100M licensing pact [3]
CancerVax agrees to merge with Micromet [4]
Links:
[1] http://www.fiercebiotech.com/press-releases/micromet-closes-40-million-private-equity-placement
[2] http://www.fiercebiotech.com/story/micromets-blinatumomab-shows-promise-phase-i/2008-08-15
[3] http://www.fiercebiotech.com/story/micromet-tracon-ink-100m-licensing-pact/2007-03-16
[4] http://www.fiercebiotech.com/story/cancervax-agrees-to-merge-with-micromet/2006-01-10