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news.Biopharmaceutical company Micromet Inc has presented pre-clinical data for the development of BiTE molecules targeting carcinoembryonal antigen (CEA), which has triggered a milestone payment from MedImmune.
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The data shows that CEA-BiTE molecules can prevent subcutaneous tumor growth and formation of lung metastases, which triggers an undisclosed payment from MedImmune to Micromet.
Micromet holds exclusive European rights to the CEA-BiTE program and is eligible for milestones and royalties for all other territories, including the US. Under the same agreement, both companies also collaborate on a new BiTE candidate targeting the tyrosine kinase receptor EphA2, which is frequently overexpressed on a wide variety of solid tumors.
BiTE molecules are a novel class of antibody derivatives with the potential to selectively direct and activate an individual’s cytotoxic T cells, the body’s most potent killer cells, to act against cancer cells. Micromet said that it is advancing with its program to test the molecules further.