Tag: milestones

Company News: bubbles & beyond presents product update and outlook at nanotech 2012

bubbles & beyond, a technology company focusing on customized intelligent fluids®, today announced that the company will present its current product portfolio and business strategy for 2012 at the upcoming nanotech 2012 conference in Tokyo, Japan (Feb. 15-17).

Intelligent fluids® are customized phase fluids, which are primarily designed for cleaning, separating and protecting surfaces. They significantly outperform competitive products in terms of efficiency and eco-friendliness. The technology platform is suitable for functional cosmetics, healthcare and industrial cleaning applications (construction, microelectronics, industrial solutions, print rolls, etc.). Products and processes based on intelligent fluids® are free from risky or dangerous substances and offer completely new application areas, significantly enhanced product characteristics and considerable process optimization in industrial settings.

In 2011, bubbles & beyond has reached major milestones, including the launch of its enpurex® cleansing product line for the printing industry, an important global distribution agreement with Rolf Meyer GmbH for the enpurex® line, and a development collaboration with JNC-CHISSO to create advanced cleansing solutions for the microelectronics sector. In addition, bubbles & beyond has established an advisory board of seasoned industry experts.

Company News: Micromet Announces Solid Tumor BiTE Antibody Collaboration with Amgen

– Collaboration on up to three targets and two programs

– Upfront payment of €10 million upon deal execution

– Maximum deal value of €695 million plus royalties and development cost reimbursement

 

Micromet, Inc. (NASDAQ: MITI) announced today that it has entered into a collaboration agreement with Amgen Inc. for the research of BiTE antibodies against three undisclosed solid tumor targets. Amgen will have the right to pursue development and commercialization of BiTE antibodies against up to two of these targets, to be selected by Amgen.

Under the terms of the agreement, Amgen is expected to pay €10 million upon deal execution.  If milestones in multiple indications and tumor types are achieved, Micromet is eligible to receive up to €342 million in clinical and commercial milestone payments.  Micromet is also eligible to receive up to double-digit royalties on worldwide net sales.

For the second BiTE program, Micromet is eligible to receive an additional cash payment upon initiation of the program, milestones, royalties and development funding comparable to the first program. The combined potential payments to Micromet from both programs, excluding reimbursement of research and development costs, are approximately €695 million.  The initial development plan contemplates €25 million in funding of Micromet R&D activities if two BiTE antibodies are advanced to IND.  All expected costs associated with the research, development and commercialization of the BiTE antibodies will be borne by Amgen.

Micromet will be primarily responsible for the discovery and pre-clinical development of the BiTE antibodies. Amgen will lead the clinical development, manufacturing, and commercialization of any products resulting from the collaboration.