Micromet: Taking a BiTE out of cancer

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Innovation is at the heart of Micromet, Inc.’s (Nasdaq:MITI) business.

The Bethesda, Md.-based biopharmaceutical firm develops antibodies for the treatment of cancer, inflammation and autoimmune diseases, and has an origin that dates back to the merger of two biotech companies.

Micromet AG was founded in 1993 as a spin-off from the Institute for Immunology at Munich University in Germany. In 2006, Micromet AG merged with CancerVax Corporation to form the present-day Micromet, Inc. CancerVax had previously incorporated in 1998 before going public in 2003.

Micromet’s success hinges on its BiTE antibody technology platform, which is designed to direct the body’s cell-destroying T cells against tumor cells. Early studies have indicated that BiTE antibodies may provide a superior mechanism for destroying tumor cells when compared to conventional antibodies. The company maintains that BiTE antibodies direct T cells to attack larger tumor masses with a potency that is comparable, or may even exceed, that of chemotherapies.

Micromet does not yet have any drugs on the market in the United States, but it is developing an impressive pipeline of therapies that are in early to mid-stage clinical trials. Its leading drug candidate, MT103, is currently in phase 2 clinical trials, and is being developed to combat non-Hodgkin’s lymphoma and acute lymphoblastic leukemia. In November, shares of Micromet got a boost when two studies showed that BiTE antibodies activate T cells only when cancer cells are present...

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