Micromet Raises $40 Million In Private Placement

(financialwire.net via COMTEX) -- MITI | Quote | Chart | News | PowerRating -- October 3, 2008 (FinancialWire) -- Biopharmaceutical firm Micromet, Inc. (NASDAQ: MITI | Quote | Chart | News | PowerRating) (Current Market Cap: US$188.42 Mil.) said that it has closed a $40 million private placement financing.

Participants in the deal include leading biotechnology investors Index Ventures Growth, Abingworth, Dafna Capital Management, LLC, and Merlin Nexus, among others.

Under the terms of the financing, Micromet sold 9.4 million shares of common stock and warrants to purchase 2.8 million shares of common stock at a total purchase price of $4.25 per unit, with each unit consisting of one share of common stock and a warrant to purchase 0.30 shares of common stock. The warrants are exercisable at $4.63 per share and will expire five years after the date of grant.

Bethesda, Maryland-based Micromet is a biopharmaceutical company developing novel, proprietary antibodies for the treatment of cancer, inflammation and autoimmune diseases. Four of its antibodies are currently in clinical trials, while the remainder of the product pipeline is in preclinical development.

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