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Micromet Closes $75 Million Equity Financing Agreement

(PresseBox) (Martinsried, ) Biopharmaceutical firm Micromet, Inc. (NASDAQ: MITI | Quote | Chart | News | PowerRating) (Current Market Cap: US Dollar 165.50 Mil.) said that it has entered into an agreement expanding its committed equity financing facility with Kingsbridge Capital Ltd., a private investment group. The new 75 million US Dollar commitment replaces a previous 25 million US Dollar agreement.

Under the terms of the deal, Kingsbridge has committed to provide up to 75 million US Dollar of capital during the next three years through the purchase of newly-issued shares of Micromet's common stock. The agreement replaces the company's 2006 CEFF agreement under which Kingsbridge had committed up to 25 million US Dollar of capital. The company did not raise capital under the 2006 CEFF.

In connection with the new CEFF, Micromet issued a warrant to Kingsbridge to purchase up to 135,000 shares of common stock at an exercise price of 4.44 US Dollar per share.

Bethesda, Maryland-based Micromet is a biopharmaceutical company with offices in Bethesda, Maryland and Munich, Germany. The company is developing novel antibodies for the treatment of cancer, inflammation and autoimmune diseases.

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