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"We are very excited to have Buck Phillips become a member of ourexecutive management team," commented Christian Itin, President and ChiefExecutive Officer, and a member of Micromet's Board. "While he served on theboard of directors, Buck has gained intimate knowledge of our business, thedevelopment programs and the management team he is now joining. His financialand industry experience will be invaluable in continuing the high standard forthe management of the financial affairs of Micromet that he has helped set asa 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 andimplementation of our financing and business strategies."
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"I have had the opportunity to work with and invest in many biotechnologycompanies. I believe Micromet is unique in terms of the breadth of itsproprietary technology, its clinical validation as evidenced by the recentarticle in Science magazine, and its strong management team," stated Mr.Phillips. "I look forward to the next chapter in my long-term relationshipwith the Company."
Mr. Phillips served as a member of the Company's board of directors sinceDecember 2000. From 1999 to August 2008, Mr. Phillips has been a ManagingDirector of Vector Fund Management. From 1991 to 1999, Mr. Phillips served invarious roles including Director of Private Placements and BiotechnologyAnalyst for INVESCO Funds Group, Inc. From 1985 to 1990, Mr. Phillips heldpositions in sales and trading with Paine Webber, Inc. and Shearson LehmanHutton, Inc. Over the last ten years, Mr. Phillips has held board positionsfor a number of public and private life sciences companies and currentlyserves as a director of Acorda Therapeutics, Inc., a publicly tradedbiopharmaceutical company. Mr. Phillips received a B.A. in economics from theUniversity of Colorado in Boulder.
About Micromet, Inc. (www.micromet-inc.com)
Micromet, Inc. (http://www.micromet-inc.com) is a biopharmaceuticalcompany developing novel, proprietary antibodies for the treatment of cancer,inflammation and autoimmune diseases. Four of its antibodies are currently inclinical trials, while the remainder of the product pipeline is in preclinicaldevelopment. The BiTE(R) antibody blinatumomab (MT103/MEDI-538) is in a phase2 clinical trial for the treatment of patients with acute lymphoblasticleukemia and in a phase 1 clinical trial for the treatment of patients withnon-Hodgkin's lymphoma. BiTE antibodies represent a new class of antibodiesthat activate a patient's own cytotoxic T cells, considered the most powerful"killer cells" of the human immune system, to eliminate cancer cells. Micrometis developing blinatumomab in collaboration with MedImmune, Inc., a subsidiaryof AstraZeneca plc. MT110 is the second BiTE antibody in clinical trials, andis being developed by Micromet in a phase 1 clinical trial for the treatmentof patients with lung or gastrointestinal cancer. The third clinical stageantibody is adecatumumab, also known as MT201, a human monoclonal antibodythat targets epithelial cell adhesion molecule (EpCAM)-expressing solidtumors. Micromet is developing adecatumumab in collaboration with Merck Seronoin a phase 1b clinical trial ev
