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Amgen to swallow $1.16B Micromet in one BiTE, like a cytotoxic T cell on a tumour

 
• By Nancy Faigen

Amgen has collaborated with Micromet on its BiTE novel oncology platform since last July and it obviously has liked what it has seen, and then in December it heard news of promising Phase II data with a Micromet molecule for acute lymphocytic leukaemia (ALL), a difficult to treat blood cancer. This has now culminated in Amgen’s announcement that it will acquire Micromet for $11 per share in cash, for a total of around $1.16 billion, a 33% premium over the company’s closing price of $8.28 just before the deal was announced.

Amgen has collaborated with Micromet on its BiTE novel oncology platform since last July and it obviously has liked what it has seen, and then in December it heard news of promising Phase II data with a Micromet molecule for acute lymphocytic leukaemia (ALL), a difficult to treat blood cancer. This has now culminated in Amgen’s announcement that it will acquire Micromet for $11 per share in cash, for a total of around $1.16 billion, a 33% premium over the company’s closing price of $8.28 just before the deal was announced.

The appeal is this new class of antibodies, called bi-specific T cell engager (BiTE) antibodies, which pack a unique punch against tumour cells because they are designed to transiently engage cytotoxic T cells for lysis of selected target cells

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