Micromet and Nycomed Enter Into Exclusive Worldwide Collaboration to Develop and Commercialize Anti-GM-CSF Antibodies for the Treatment of Inflammatory and Autoimmune Diseases

Bethesda, Maryland, and Roskilde, Denmark (ots/PRNewswire) -

Micromet, Inc. (Nasdaq: MITI) and Nycomed today announced an
agreement under which the two companies will collaborate on the
development of anti-GM-CSF antibodies that may be useful for the
treatment of inflammatory and autoimmune diseases. The lead product
candidate in the collaboration is Micromet's MT203, a human antibody
which neutralizes granulocyte macrophage colony-stimulating factor
(GM-CSF), a cytokine known to play a significant role in autoimmune
and inflammatory disease. Preclinical studies performed by Micromet
support the development and evaluation of MT203 for the treatment of
rheumatoid arthritis, multiple sclerosis, psoriasis, asthma and
chronic obstructive pulmonary disease. MT203 is expected to enter
clinical trials in 2008.

Under the terms of the agreement, Micromet will receive an upfront
license fee of euro 5 million (approximately US$7 million), and is
eligible to receive R&D reimbursements and payments upon the
achievement of development milestones of more than euro 120 million
(approximately US$160 million) in the aggregate. In addition,
Micromet is eligible for royalties on worldwide sales of MT203 and
other products that may be developed under the agreement. Micromet
will be primarily responsible for performing preclinical development,
process development and manufacturing of MT203 for early clinical
trials, whereas Nycomed will be responsible for clinical development
and commercialization on a worldwide basis. Nycomed will bear the
cost of development activities and reimburse Micromet for its
expenses incurred in connection with the development program.

"We are delighted to enter into a collaboration for the
development of MT203 with our new partner Nycomed. We are excited
about this collaboration as both parties' expertise and capabilities
complement each other," said Christian Itin, President and Chief
Executive Officer of Micromet.

"Neutralizing GM-CSF presents a new biology concept in
inflammatory processes and may have the potential to improve the
lives of patients suffering from severe chronic inflammatory and
autoimmune diseases. Furthermore, this deal is the first example of
Nycomed's strong commitment towards external collaborations across
all development stages as a key component of our new R&D strategy.
MT203 also highlights our strategic interest in inflammatory
research," said Anders Ullman, Executive Vice President R&D of
Nycomed.

About Nycomed (http://www.nycomed.com)

Nycomed is a pharmaceutical group which provides products for
hospitals, specialists and general practitioners, as well as
over-the-counter medicines in selected markets. The company is active
within a range of therapeutic areas, including cardiology,
gastroenterology, Osteoporosis, respiratory, pain and tissue
management. New products are sourced both from own research and from
external partners. Operating throughout Europe and in fast-growing
markets such as Latin America, Russia/CIS and the Asia-Pacific region
Nycomed has a presence in about 50 markets worldwide. Privately
owned, the combined group had non-audited estimated annual sales of
approximately euro 3.4 billion and an EBITDA of euro 933.4 million
(2006 results).

About Micromet, Inc. (http://www.micromet-inc.com)

Micromet, Inc. is a biopharmaceutical company focusing on the
development of novel, proprietary antibody-based products for cancer,
inflammatory and autoimmune diseases. Two product candidates are
currently in clinical trials. MT103/MEDI-538, which is the first
product candidate based on Micromet's novel BiTE(R) product
development platform, is being evaluated in a phase 1 clinical trial
for the treatment of patients with non-Hodgkins lymphoma. The BiTE
product development platform is based on a unique, antibody-based
format that leverages the cytotoxic potential of T cells, widely
recognized as the most powerful 'killer cells' of the human immune
system. Adecatumumab (MT201), a recombinant human monoclonal antibody
which targets EpCAM expressing tumors, has completed two phase 2a
clinical trials, one in patients with breast cancer and the other in
patients with prostate cancer. In addition, a phase 1b trial
evaluating the safety and tolerability of MT201 in combination with
docetaxel is currently ongoing in patients with metastatic breast
cancer. Micromet has established collaborations with MedImmune, Inc.
for MT103/MEDI-538 and Merck Serono for adecatumumab (MT201).

Forward-Looking Statements

For Micromet:

This release contains certain forward-looking statements that
involve risks and uncertainties that could cause actual results to be
materially different from historical results or from any future
results expressed or implied by such forward-looking statements. Such
forward-looking statements include statements regarding the intended
utilization of product candidates, the conduct and results of future
clinical trials, plans regarding regulatory filings, future research,
discovery of new product candidates, and clinical trials, and
partnering activities. Factors that may cause actual results to
differ materially include the risk that product candidates that
appeared promising in early research and clinical trials do not
demonstrate safety and/or efficacy in larger-scale or later clinical
trials, the risks associated with regulatory processes, the risks
associated with reliance on outside financing to meet capital
requirements, and the risks associated with reliance on collaborative
partners for future revenues under the terms of its existing
collaboration agreements, and for further pre-clinical and clinical
studies, development and commercialization of product candidates. You
are urged to consider statements that include the words "appear,"
"may," "will," "would," "could," "should," "believes," "estimates,"
"projects," "potential," "expects," "plans," "anticipates,"
"intends," "continues," "forecast," "designed," "goal," or the
negative of those words or other comparable words to be uncertain and
forward-looking. These factors and others are more fully discussed in
Micromet's periodic reports and other filings with the SEC, including
the "Risk Factors" sections of such reports.

Any forward-looking statements are made pursuant to Section 27A of
the Securities Act of 1933, as amended, and Section 21E of the
Securities Exchange Act of 1934, as amended, and, as such, speak only
as of the date made. Micromet undertakes no obligation to publicly
update any forward-looking statements, whether as a result of new
information, future events or otherwise.

Web site: http://www.micromet-inc.com
http://www.nycomed.com

ots Originaltext: Micromet, Inc.
Im Internet recherchierbar: http://www.presseportal.de

Contact:
Chris Schnittker, SVP & CFO, +1-240-752-1421,
christopher.schnittker@micromet-inc.com, or Investors, Susan Noonan,
+1-212-966-3650, susan@sanoonan.com, or Media, Pat Garrison,
+1-917-322-2567, pgarrison@rxir.com, all of Micromet, Inc.; or
Christoffer Jensen, VP Communications of Nycomed, +45-4677-1112, or
cell, +45-2243-6944