Micromet to move headquarters as products progress through pipeline

By Lisa Kerner

Charlotte, N.C., Sept. 27 - Micromet, Inc. will move its headquarters location to the East Coast in the fourth quarter, according to company president and chief executive officer Christian Itin. The firm is currently based in Carlsbad, Calif.

Itin mentioned the move in his remarks at the UBS Global Life Sciences Conference in New York today.

Highlighting Micromet's product pipeline, Itin noted that its most advanced product, the MT201 antibody, is being studied in two phase 2 trials for breast and prostate cancers. The company, working in partnership with Serono, hopes to move the antibody to pivotal, combination studies.

MT103, the company's new class of compound that kills tumor cells, is in phase 1 studies. Micromet is working with MedImmune on MT103's development.

Itin noted that Micromet's preclinical programs, which include D93, MT203 and MT110 are expected to move to the clinical stage within the next 18 months.

The CEO noted the company has had a "pretty busy" year so far, with results in 10 publications, a PIPE of $8 million and a $25 million committed equity financing facility.

Looking forward, Itin said he expects phas2 2 results for MT201 as well as updates on preclinical products.

Revenues are expected to be in the $13 million to $15 million range, not including milestones.

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