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Micromet Closes $70.5 Million Public Offering of Common Stock

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Published on Tuesday, November 16th 2010 at 8:50 GMT by Market Wire}  

BETHESDA, Md.--([ BUSINESS WIRE ])--Micromet, Inc. (NASDAQ: MITI) announced today the closing of its previously announced underwritten public offering of 9.9 million shares of its common stock.

The Company received net proceeds from the offering of approximately $70.5 million, after deducting estimated offering expenses. The Company plans to use the net proceeds from the financing primarily for general corporate purposes, which may include research and development, capital expenditures, working capital and general and administrative expenses.

Piper Jaffray acted as the sole underwriter for this offering. A copy of the final prospectus and related prospectus supplement for this offering may be obtained from Piper Jaffray & Co., 800 Nicollet Mall, Suite 800, Minneapolis, MN 55402, Telephone 1-800-747-3924. Electronic copies of the prospectus and the prospectus supplement are available on the Securities and Exchange Commission's website at [ www.sec.gov ].

This press release does not and shall not constitute an offer to sell or the solicitation of an offer to buy the Company's common stock, nor shall there be any sale of the common stock in any state or jurisdiction in which such an offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any state or jurisdiction.

About Micromet

Micromet, Inc. is a biopharmaceutical company focused on the discovery, development and commercialization of innovative antibody-based therapies for the treatment of cancer. Its product development pipeline includes novel antibodies generated with its proprietary BiTE® technology, as well as conventional monoclonal antibodies. The Companya™s lead product candidate blinatumomab (MT103) is currently the subject of a European pivotal trial in patients with minimal residual disease positive acute lymphoblastic leukemia. Micromet has collaborations with a number of leading pharmaceutical and biotechnology companies, including Bayer Schering Pharma, Boehringer Ingelheim, MedImmune, Merck Serono, Nycomed and sanofi-aventis. Additional information can be found at [ www.micromet.com ]