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Micromet grosses $40mm privately

Executive Summary

Micromet (cancer, inflammation, and autoimmune disease antibodies) has grossed $40mm through the private sale of 9.4mm common shares at $4.25 each (an 8% discount). Investors also received five-year warrants to buy another 2.8mm shares at $4.63 apiece. Index Ventures Growth, Abingworth, DAFNA Capital Management, and Merlin Nexus participated and were joined by three Micromet directors and two funds affiliated with the members. The company will use the funds to continue clinical development of its antibodies, including BiTE blinatumomab (MT103/MEDI538) in Phase II for acute lympoblastic leukemia and in Phase I for non-Hodgkin's lymphoma. Piper Jaffray and RBC Capital Markets were the placement agents.
Deal Industry
  • Biotechnology
    • Large Molecule
      • Antibodies
  • Pharmaceuticals
Deal Status
  • Final
Deal Type
  • Financing
    • Private Placement
    • Private Investment in Public Equity

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