1. Scrip
  2. >>Therapy Areas

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...

More from Anticancer

More from Therapeutic Category

Sanofi Revels In More Positive Rilzabrutinib Data

 
• By Kevin Grogan

The oral BTK inhibitor impresses in a Phase II trial for IgG4-related disease.

BioNTech To Buy mRNA Rivals CureVac

 
• By Andrew McConaghie

The $1.25bn buyout is a simple deal for BioNTech, bringing new mRNA R&D and manufacturing capacity while also ending a bothersome patent dispute.

Is Zydus’s Agenus Deal Opportunistic Or Strategic?

 
• By Vibha Ravi

Will Zydus’s acquisition and licensing deal with Agenus turn out to be a strategic move towards building an oncology portfolio or an opportunistic one driven by a venture capital mindset?