Bayer enters agreement with Micromet

Bayer has said it has entered an agreement with Micronet, which will see the former gaining an exclusive option to obtain a licence to develop and commercialise an antibody.

Under the terms of the collaboration, Bayer will pay the company 4.5 million euros (4.05 million pounds) in order to secure a one-year option on a BiTE antibody.

As a result, the organisation would also assume full control of any further commercialisation and development of the product.

Professor Andreas Busch, member of the board of management of Bayer Schering Pharma, which is responsible for Global Drug Discovery, said: “Oncology is one of our core growth areas and biologicals are a key focus.

“We are excited about Micromet’s BiTE antibody technology and believe BiTE antibodies represent a novel and promising approach to cancer therapy.”

Christian Itin, Micromet’s chief executive officer added the company was “very pleased” that Bayer was interested in the programme.

Last week, Bayer said it had signed a licensing agreement with Hamamatsu Photonics that will see the former acquiring worldwide research and development rights.

The privileges surround a group of molecules that specifically bind to malignant tumour cells, which – it is hoped – may improve diagnosis of certain cancers.