Micromet, Inc. Appoints Barclay Phillips as Senior Vice President and
Chief Financial Officer
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BETHESDA, Md., Sept. 2 /PRNewswire-FirstCall/ -- Micromet, Inc.
(Nasdaq: MITI) ("Micromet" or the "Company"), a biopharmaceutical
company developing novel, proprietary antibodies for the treatment of
cancer, inflammation and autoimmune diseases, today announced the
appointment of Barclay A. Phillips as Senior Vice President and Chief
Financial Officer. Mr. Phillips has served as a member of the
Company's board of directors since 2000, and was the chair of the
nominating & corporate governance committee and a member of the audit
committee. In connection with his joining the executive management
team of Micromet, Mr. Phillips has resigned from the board and the
committees he served on.
"We are very excited to have Buck Phillips become a member of our
executive management team," commented Christian Itin, President and
Chief Executive Officer, and a member of Micromet's Board. "While he
served on the board of directors, Buck has gained intimate knowledge
of our business, the development programs and the management team he
is now joining. His financial and industry experience will be
invaluable in continuing the high standard for the management of the
financial affairs of Micromet that he has helped set as a member of
our audit committee. We thank Buck for his service on the board, and
look forward to his leadership and contributions in the development
and implementation of our financing and business strategies."
"I have had the opportunity to work with and invest in many
biotechnology companies. I believe Micromet is unique in terms of the
breadth of its proprietary technology, its clinical validation as
evidenced by the recent article in Science magazine, and its strong
management team," stated Mr. Phillips. "I look forward to the next
chapter in my long-term relationship with the Company."
Mr. Phillips served as a member of the Company's board of directors
since December 2000. From 1999 to August 2008, Mr. Phillips has been
a Managing Director of Vector Fund Management. From 1991 to 1999, Mr.
Phillips served in various roles including Director of Private
Placements and Biotechnology Analyst for INVESCO Funds Group, Inc.
From 1985 to 1990, Mr. Phillips held positions in sales and trading
with Paine Webber, Inc. and Shearson Lehman Hutton, Inc. Over the
last ten years, Mr. Phillips has held board positions for a number of
public and private life sciences companies and currently serves as a
director of Acorda Therapeutics, Inc., a publicly traded
biopharmaceutical company. Mr. Phillips received a B.A. in economics
from the University of Colorado in Boulder.
About Micromet, Inc. (www.micromet-inc.com)
Micromet, Inc. (http://www.micromet-inc.com) 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. The BiTE(R) antibody
blinatumomab (MT103/MEDI-538) is in a phase 2 clinical trial for the
treatment of patients with acute lymphoblastic leukemia and in a
phase 1 clinical trial for the treatment of patients with
non-Hodgkin's lymphoma. BiTE antibodies represent a new class of
antibodies that activate a patient's own cytotoxic T cells,
considered the most powerful "killer cells" of the human immune
system, to eliminate cancer cells. Micromet is developing
blinatumomab in collaboration with MedImmune, Inc., a subsidiary of
AstraZeneca plc. MT110 is the second BiTE antibody in clinical
trials, and is being developed by Micromet in a phase 1 clinical
trial for the treatment of patients with lung or gastrointestinal
cancer. The third clinical stage antibody is adecatumumab, also known
as MT201, a human monoclonal antibody that targets epithelial cell
adhesion molecule (EpCAM)-expressing solid tumors. Micromet is
developing adecatumumab in collaboration with Merck Serono in a phase
1b clinical trial evaluating adecatumumab in combination with
docetaxel for the treatment of patients with metastatic breast
cancer. The fourth clinical stage antibody is MT293 which is licensed
to TRACON Pharmaceuticals, Inc. and is being developed in a phase 1
clinical trial for the treatment of patients with cancer. Three
additional BiTE antibodies, targeting CD33, CEA and MCSP,
respectively, are in preclinical development. In addition, Micromet
has established a collaboration with Nycomed for the development and
commercialization of MT203, a human antibody neutralizing the
activity of granulocyte/macrophage colony stimulating factor
(GM-CSF), which has potential applications in the treatment of
various inflammatory and autoimmune diseases, such as rheumatoid
arthritis, psoriasis, or multiple sclerosis.
Forward-Looking Statements
This release contains certain forward-looking statements that involve
risks and uncertainties that could cause actual results to be
materially different from historical results or from any future
results expressed or implied by such forward-looking statements.
These forward-looking statements include statements regarding the
efficacy, safety and intended utilization of our product candidates,
the development of our BiTE antibody technology, the conduct, timing
and results of future clinical trials, expectations of the future
expansion of our product pipeline and collaborations, and our plans
regarding future presentations of clinical data. You are urged to
consider statements that include the words "ongoing," "may," "will,"
"believes," "potential," "expects," "plans," "anticipates,"
"intends," or the negative of those words or other similar words to
be uncertain and forward-looking. Factors that may cause actual
results to differ materially from any future results expressed or
implied by any forward-looking statements include the risk that
product candidates that appeared promising in early research,
preclinical studies or clinical trials do not demonstrate safety
and/or efficacy in subsequent clinical trials, the risk that
encouraging results from early research, preclinical studies or
clinical trials may not be confirmed upon further analysis of the
detailed results of such research, preclinical study or clinical
trial, the risk that additional information relating to the safety,
efficacy or tolerability of our product candidates may be discovered
upon further analysis of preclinical or clinical trial data, the risk
that we or our collaborators will not obtain approval to market our
product candidates, the risks associated with reliance on outside
financing to meet capital requirements, and the risks associated with
reliance on collaborators, including MedImmune, Merck Serono, TRACON
and Nycomed, for the funding or conduct of further development and
commercialization activities relating to our product candidates.
These factors and others are more fully discussed in Micromet's
Annual Report on Form 10-K for the fiscal year ended December 31,
2007, filed with the SEC on March 14, 2008, as well as other filings
by the company with the SEC.
Any forward-looking statements are made pursuant to Section 27A of
the Securities Act of 1933, as amended, and Section 21E of the
Securities Exchange Act of 1934, as amended, and, as such, speak only
as of the date made. Micromet, Inc. undertakes no obligation to
publicly update any forward-looking statements, whether as a result
of new information, future events or otherwise.
Contact Information
US Media: European Media:
Andrea tenBroek/Chris Stamm Ludger Wess
(781)-684-0770 +49 (40) 8816 5964
micromet@schwartz-pr.com ludger@akampion.com
US Investors: European Investors:
Susan Noonan Ines-Regina Buth
(212) 966-3650 +49 (30) 2363 2768
susan@sanoonan.com ines@akampion.com
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Micromet Inc.
2110 Rutherford Road Carlsbad USA
WKN: A0JMQD; ISIN:
US59509C1053;
Listed: Xetra Stars in Frankfurter Wertpapierbörse;
