Micromet Closes $75 Million Equity Financing Agreement

Martinsried, (PresseBox) - 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.

FinancialWire" is a fully independent, proprietary news wire service of Investrend Information (a division of Investrend Communications, Inc.). FinancialWire" news is written by professional journalists, dedicated to pure journalistic standards. FinancialWire" does not receive or accept any compensation from any individual or subject company (or representative thereof) for its news or opinions. All FinancialWire" news is available at http://www.financialwire.net . Please address any inquiries to feedback@financialwire.net .

Free annual reports for companies mentioned in the news are available at http://investrend.ar.wilink.com/... .


For full details for MITI click here: http://www.tradingmarkets.com/...

Press releases you might also be interested in

Subscribe for news

The subscribtion service of the PresseBox informs you about press information of a certain topic by your choice at a choosen time. Please enter your email address to receive the email with the press releases.

An error occurred!

Thank you! You will receive a confirmation email within a few minutes.

I want to subscribe to the gratis press mail and have read and accepted the conditions.