Micromet (MITI) shares traded some 3.3% higher on Monday after the small-cap biotech announced that its lead product candidate blinatumomab (MT103) led to remission in almost four-fifths of leukemia patients in a Phase II trial. It also said that a Phase I trial showed the drug induced durable remission in patients with another blood cancer: non-Hodgkin lymphoma.

Micromet is working on immunotherapies -- treatments that aim to trigger the body's own immune system to act against cancer without using toxic chemicals. The company has developed a way to activate T-cells, a type of white blood cells that protect the body against infection, to recognize and attack tumors.

Despite its having no medicines on the market, the 17-year-old company's cancer-fighting technology has attracted attention from large pharmaceuticals. Already, it has signed deals with Bayer (BAYRY), Sanofi-Aventis (SNY), AstraZeneca (AZN), Germany's Merck (MRK) and Boehringer, Bloomberg reports.

Increase your money and finance knowledge from home

Forex for Beginners

Learn about trading currencies and foreign exchange transactions

View Course »

Bonds for Beginners

Learn about fixed income investments.

View Course »

Add a Comment

*0 / 3000 Character Maximum