Micromet takes back MedImmune's blinatumomab rights

Bethesda, MD-based Micromet has agreed to buy out MedImmune's North American rights to blinatumomab, a potential treatment for lymphoma and leukemia.

As a result of the buyout, Micromet now controls global rights to develop and commercialize blinatumomab and any other BiTE antibodies for hematological cancers. The companies inked the blinatumomab agreement in 2003 and planned to create up to six novel drug candidates using Micromet's proprietary BiTE product platform.

"The advancement of blinatumomab in the clinic is the top priority for Micromet," company CEO Christian Itin says in a statement. "With complete control over global development and commercialization of blinatumomab, Micromet can develop an integrated clinical and regulatory strategy across multiple commercial territories, starting with the first pivotal study that we expect to initiate in 2010." 

- read Micromet's release