
Amgen buys Micromet for $1.2 billion
pharmafile | January 27, 2012 | News story | Research and Development, Sales and Marketing | Amgen. Micromet, blinatumomab
Amgen is to buy German biotech firm Micromet for $1.16 billion to broaden its mid-stage pipeline and consolidate its oncology research
Micromet has been valued at $11 per share in cash, making the total acquisition worth $1.16 billion.
The deal brings with it Micromet’s most advanced drug blinatumomab, a Bispecific T-cell Engager (BiTE) antibody in Phase II clinical trials for acute lymphoblastic leukemia (ALL).
Blinatumomab is also in clinical development for the treatment of non-Hodgkin’s lymphoma (NHL), and could have applications in other blood cancers.
Kevin Sharer, Amgen’s chairman and chief executive, said: “The acquisition of Micromet is an opportunity to acquire an innovative oncology asset with global rights, and a validated technology platform with broad potential clinical applications.
“Blinatumomab will serve as an important complement to our oncology pipeline and is representative of our corporate strategy, which is focused on developing and successfully commercialising therapeutics to treat patients with grievous illness.”
Blinatumomab has demonstrated encouraging single-agent activity in both adult and paediatric patients with ALL, as well as adult patients with NHL, and is currently under investigation in five oncology indications.
The drug uses Micromet’s proprietary BiTE antibody technology which provides an innovative, validated platform for future clinical research
Amgen will also take on Micromet’s Munich site, which will operate as an Amgen ‘R&D centre of excellence’.
Ben Adams
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