BETHESDA, Md.--(BUSINESS WIRE)--Micromet, Inc. (NASDAQ: MITI) today announced plans to advance the Company’s BiTE antibody MT112/BAY 2010112 into formal preclinical development in collaboration with Bayer Schering Pharma AG, Germany. Taking this next step toward an IND-filing triggers a 2.5 million Euro (approximately $3.5 million) milestone payment to Micromet. The product candidate, which is being developed for the treatment of patients with solid tumors, was generated by Micromet using its proprietary BiTE technology.
