Biz Brief: Micromet Stock Rises on Cancer Drug Trial Results
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.