Micromet Announces Definitive Agreement for $8.0 Million Private Placement (Press Release Source: Micromet Inc.) Monday July 24, 3:06 am ET

CARLSBAD, CA--(MARKET WIRE)--Jul 24, 2006 --

Carlsbad, CA, - July 24, 2006 - Micromet, Inc. (NASDAQ:MITI - News), a transatlantic biotechnology company focused on the development of antibody-based pharmaceutical products for the treatment of cancer, autoimmune and inflammatory diseases, today announced that it has entered into a definitive agreement with funds managed by NGN Capital LLC to raise approximately $8.0 million in a private placement. Under the terms of the financing, Micromet is expected to sell 2,222,222 shares of common stock at $3.60 per share, a discount of 7.8% to the closing price of Friday, July 21, 2006. In addition, funds managed by NGN Capital LLC will receive warrants to purchase 555,556 shares of common stock at $5.00 per share. Cowen and Company served as the exclusive placement agent on the offering.

The net proceeds of the financing will be used for continued research and development of Micromet's product candidates and the relocation of its United States headquarters to the East Coast. Dr. Peter Johann, a Managing General Partner of NGN Capital LLC, will join the Company's board of directors.

"We would like to welcome Peter to the board. Peter has longstanding experience in the commercialization of pharmaceuticals and served in senior functions running corporate and business development at pharmaceutical companies. His experience fits well with the corporate goals of an emerging biopharmaceutical company like Micromet," commented Christian Itin, President and CEO of Micromet, Inc.

"NGN is very familiar with Micromet and its exciting pipeline and BiTE® platform technology. We are delighted to have the opportunity to make an investment in such an outstanding company. We look forward to working with the Board of Directors and the management of the company to enhance the value of Micromet," said Peter Johann.

This news release is not an offer to sell or the solicitation of an offer to buy the securities discussed herein. These securities have not been registered under the Securities Act of 1933, as amended, or any state securities laws and may not be offered or sold in the United States absent registration with the Securities and Exchange Commission (SEC) or an applicable exemption from the registration requirements. Micromet, Inc. has agreed to file a registration statement with respect to the shares within 45 days following the closing of the private placement. This news release is being issued pursuant to and in accordance with Rule 135c under the Securities Act of 1933, as amended.

Contact Information

Investors: Ines-Regina Buth
(760) 494-4235 (US)
+49 (0)89 895277 221 (Europe)
ines.buth@micromet-inc.com

Media Europe: Evelyn Wolf
+49 (0)89 895277 220
evelyn.wolf@micromet-inc.com

Media US: Susan Noonan
(212) 966-3650
susan@sanoonan.com
About Micromet, Inc. (www.micromet-inc.com )

Micromet, Inc. is a biopharmaceutical company with a focus on the development of novel, proprietary antibody-based products for cancer and inflammatory and autoimmune diseases. Two product candidates are currently in clinical trials. Adecatumumab (MT201), a recombinant human monoclonal antibody, is being evaluated in Phase 2 clinical trials for the treatment of patients with breast cancer and prostate cancer. MT103 is being studied in a Phase 1 clinical trial for the treatment of patients with Non Hodgkin Lymphoma. Micromet has established a drug development platform based on its BiTE® technology, a unique, antibody-based format that leverages the cytotoxic potential of T cells, the most powerful 'killer cells' of the human immune system. Micromet has established collaborations with MedImmune, Inc. and Serono.

About NGN Capital

NGN Capital is a global healthcare venture capital investment firm with offices in New York, NY, Heidelberg, Germany, and Greenwich, CT. NGN has investment capabilities across a broad spectrum of healthcare segments, including drug products, medical devices, and healthcare services, with an emphasis on later-stage opportunities.

Contact: John R. Costantino, or Dr. Peter Johann
+1 212-972-0077
jcostantino@ngncapital.com; pjohann@ngncapital.com

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