Micromet inks $475M antibody deal with Sanofi

In a big endorsement of Micromet's approach to developing antibodies for cancer, Sanofi-Aventis has signed off on a $475 million deal that starts small but can lead to a series of rich prices for the developer.

In the new pact Micromet will be responsible for developing an antibody that targets an antigen on the surface of carcinoma cells, activating T cells that seek and destroy cancer cells. Micromet will develop the drug candidate through Phase I and then pass it along to Sanofi, which will then be responsible for the research program.

"Micromet's BiTE antibodies represent a promising new approach to treating cancer," declared Marc Cluzel (photo), senior vice-president R&D for Sanofi-Aventis, which has been on a deal-making spree. "We believe BiTE antibodies have the potential to significantly expand the treatment options that we can offer to cancer patients in the future."

Micromet, a 2004 Fierce 15 company with facilities in Bethesda, MD and Munich, gets £8 million on completion of the deal, development and regulatory milestone payments of up to £162 million, royalties on worldwide product sales and performance-based sales milestones of up to £150 million.

- check out Micromet's release

Suggested Articles

Pfizer's eczema hopeful has been building its case to challenge Sanofi and Regeneron's Dupixent, but safety issues could stand in its way.

Cedrik Britten, M.D., becomes the biotech’s new chief medical officer to help run its adoptive cell therapy and TCR bispecifics platform.

Broad Institute researchers showed that base-editing the Tmc1 gene preserved hair cells that helped transmit sound in the ears of mice.