|Biotech partner:||Micromet (Germany-USA)|
|Pharma Partner:||Boehringer Ingelheim (Germany)|
|Type of agreement:||* R&D
* commercialization/ distribution
* marketing/ promotion
|Disease area:||multiple myeloma|
|Nature of the agreement:||Boehringer Ingelheim and Micromet have entered into a collaboration agreement for the research, development and commercialization of a new BiTE® antibody for the treatment of multiple myeloma.
Micromet is responsible for discovery of the BiTE® antibody and will jointly conduct with Boehringer Ingelheim further pre-clinical studies. Boehringer Ingelheim is responsible for all manufacturing activities, clinical development and worldwide commercialization subject to Micromet's co-promotion right in the U.S. Micromet will bear the costs up to a pre-defined amount for its preclinical activities. During commercialization Micromet will solely bear the costs for its sales force in the U.S. All other costs for research, development, manufacturing and commercialization of the BiTE® antibody will be borne by Boehringer Ingelheim.
In the U.S. Micromet and Boehringer Ingelheim will jointly co-promote the product.
|Financial terms of the agreement:||Under the terms of the agreement Boehringer Ingelheim will pay Micromet an upfront cash payment of € 5 million (approximately $6.6 million). Micromet is eligible to receive development and regulatory milestone payments of up to € 50 million (approximately $66 million) and tiered low double-digit royalties on product sales outside the U.S.|