Micromet Expands Committed Equity Financing Facility to $75 Million

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BETHESDA, MD-December 2, 2008-Micromet, Inc. (NASDAQ: MITI), a
biopharmaceutical company developing novel, proprietary antibodies
for the treatment of cancer, inflammation and autoimmune diseases,
today announced that it has entered into an agreement expanding its
Committed Equity Financing Facility (CEFF) with Kingsbridge Capital
Limited, a private investment group. Under the terms of the
agreement, Kingsbridge has committed to provide up to $75 million of
capital during the next three years through the purchase of
newly-issued shares of Micromet's common stock. Micromet has no
obligation to access the facility and will have full control over the
amount and the timing of any financing under the facility, subject to
certain conditions outlined below. This agreement replaces the
Company's 2006 CEFF agreement under which Kingsbridge had committed
up to $25 million of capital. The Company did not raise capital
under the 2006 CEFF.

"We believe that the closing of our recent $40 million PIPE financing
puts us in a strong financial position. The expanded CEFF provides
Micromet with additional financial strength and flexibility, which
has never been more important than in the current financial
environment," stated Dr. Christian Itin, President and CEO of
Micromet.

Key provisions of the CEFF are as follows:

-- After the Securities and Exchange Commission (SEC) declares
effective the registration statement to be filed by Micromet covering
the resale of the shares of common stock issuable in connection with
the new CEFF, Micromet can access up to $75 million from Kingsbridge
through December 1, 2011, in exchange for newly-issued shares of
Micromet's common stock, subject to the terms of the CEFF. The
maximum amount of the new CEFF will be reduced by any amounts drawn
down on the August 2006 CEFF prior to the date on which the SEC
declares the registration statement effective. To date, Micromet,
has not drawn down any amounts under the August 2006 CEFF.

-- The maximum number of shares that Micromet can sell to Kingsbridge
under the new CEFF is 10,104,919 (exclusive of shares issuable to
Kingsbridge upon exercise of a warrant issued to Kingsbridge and
described below), and will be reduced by any shares issued under the
August 2006 CEFF prior to the date on which the SEC declares the
registration statement for the new CEFF effective.

-- Micromet may access capital under the new CEFF in tranches of up
to the greater of (a) a percentage of Micromet's market
capitalization as determined at the time of the draw down of such
tranche (which percentage ranges from 1.0% to 1.5% depending upon the
Company's market capitalization at the time of the draw down) or (b)
four times the average trading volume of the Company's common stock
for a specified period prior to the draw down notice, multiplied by
the closing price of the common stock on the trading day prior to the
draw down notice, in each case subject to certain conditions,
provided that the maximum amount of any tranche is limited to $10
million. Each tranche will be issued and priced over an eight-day
pricing period. Kingsbridge will purchase shares of common stock
pursuant to the new CEFF at discounts ranging from 6% to 14%
depending on the average market price of the common stock during the
eight-day pricing period, provided that if the average market price
on any day during the pricing period is less than the greater of
$2.00 or 85% of the closing price of the day preceding the first day
of the pricing period, then such day would not be used in determining
the number of shares that would be issued in the draw down and the
aggregate amount of such draw down would be decreased by one-eighth.

-- Throughout the term of the agreement, Kingsbridge is restricted
from engaging in any shorting transaction of Micromet's common stock.

-- Micromet is not obligated to utilize any of the $75 million
available under the CEFF and there are no minimum commitments or
minimum use penalties. The CEFF agreement does not contain any
restrictions on Micromet's operating activities, automatic pricing
resets or minimum market volume restrictions.

-- The agreement does not prohibit Micromet from conducting
additional debt or equity financings, other than financings similar
to the CEFF.

-- In connection with the new CEFF, Micromet issued a warrant to
Kingsbridge to purchase up to 135,000 shares of common stock at an
exercise price of $4.44 per share, which represents a 10% premium
over the average of the closing prices of Micromet's common stock
during the five trading days immediately preceding the signing of the
agreement. The warrant will become exercisable on June 1, 2009. The
warrant will remain exercisable, subject to certain exceptions, until
June 1, 2014. In connection with the August 2006 CEFF, the Company
issued to Kingsbridge a warrant to purchase up to 285,000 shares of
common stock at an exercise price of $3.2145 per share, which warrant
is not affected by the new CEFF. The securities issuable in
connection with the new CEFF and upon the exercise of the warrants
issued to Kingsbridge have not been registered under the Securities
Act of 1933 and may not be offered or sold in the United States
absent registration under the Securities Act of 1933 and applicable
state securities laws or available exemptions from registration
requirements. Micromet has agreed to file a registration statement
for the resale of the shares of common stock issuable in connection
with the new CEFF and the shares of common stock underlying the
warrants before January 30, 2009. This press release shall not
constitute an offer to sell or the solicitation of an offer to buy
these securities, nor shall there be any sale of these securities in
any state which such offer, solicitation or sale would be unlawful
prior to the registration or qualification under the securities laws
of any such state.

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About Micromet, Inc.

Micromet, Inc. (www.micromet-inc.com) is a biopharmaceutical company
with offices in Bethesda, Maryland and Munich, Germany. The Company
is developing novel, proprietary antibodies for the treatment of
cancer, inflammation and autoimmune diseases. The Company uses its
proprietary BiTE® antibody platform to create a new class of
antibodies that specifically activate T cells from the patient's own
immune system to eliminate cancer cells or other disease-related
cells. Four of the Company's antibodies are currently in clinical
trials, with the remainder of its product pipeline in preclinical
development. The Company's lead program is a BiTE antibody known as
blinatumomab, or MT103. It is in a phase 2 clinical trial for the
treatment of patients with acute lymphoblastic leukemia and a phase 1
clinical trial for the treatment of patients with non-Hodgkin's
lymphoma. Micromet is developing blinatumomab in collaboration with
MedImmune, a subsidiary of AstraZeneca plc. Micromet's second BiTE
antibody in clinical development is MT110, which targets the
epithelial cell adhesion molecule (EpCAM). The Company owns all
rights to MT 110, which is currently in a phase 1 clinical trial for
the treatment of patients with solid tumors. The Company's third
clinical stage antibody is adecatumumab, also known as MT201, a
conventional human monoclonal antibody that targets EpCAM-expressing
solid tumors. Micromet is developing adecatumumab in collaboration
with Merck Serono in a phase 1b clinical trial evaluating
adecatumumab in combination with docetaxel for the treatment of
patients with metastatic breast cancer. Micromet has licensed a
fourth clinical stage antibody, MT293, to TRACON Pharmaceuticals,
Inc. MT293 is being developed in a phase 1 clinical trial for the
treatment of patients with cancer. The Company's preclinical programs
include MT203, which is being developed in collaboration with
Nycomed. MT203 is a traditional human antibody neutralizing the
activity of granulocyte/macrophage colony stimulating factor
(GM-CSF), which has potential applications in the treatment of
inflammatory and autoimmune diseases, such as rheumatoid arthritis,
psoriasis, or multiple sclerosis. Additional BiTE antibodies,
targeting CEA, CD33, Her2, EGFR and MCSP, respectively, are in
different stages of preclinical development.

Forward-Looking Statements

This release contains certain forward-looking statements that involve
risks and uncertainties that could cause actual results to be
materially different from historical results or from any future
results expressed or implied by such forward-looking statements.
These forward-looking statements include statements regarding the
issuance of shares of Micromet's common stock under the new CEFF and
the registration for resale of the shares to be issued under the
CEFF. Factors that may cause actual results to differ materially from
any future results expressed or implied by any forward-looking
statements include the risk that decreases in the price of the
Company's common stock could prohibit the Company from being able to
access the new CEFF and the ability of Kingsbridge to terminate the
CEFF in the event that the Company does not draw down specified
amounts under the new CEFF. These factors and others are more fully
discussed in Micromet's Quarterly Report on Form 10-Q for the fiscal
quarter ended September 30, 2008, filed with the SEC on November 6,
2008, as well as other filings by Micromet with the SEC.

Any forward-looking statements are made pursuant to Section 27A of
the Securities Act of 1933, as amended, and Section 21E of the
Securities Exchange Act of 1934, as amended, and, as such, speak only
as of the date made. Micromet undertakes no obligation to publicly
update any forward-looking statements, whether as a result of new
information, future events or otherwise.

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Contact Information

US Media: European Media:
Andrea tenBroek/Chris Stamm Ludger Wess
(781)-684-0770 +49 (40) 8816 5964
micromet@schwartz-pr.com ludger@akampion.com

US Investors: European Investors:
Susan Noonan Ines-Regina Buth
(212) 966-3650 +49 (30) 2363 2768
susan@sanoonan.com ines@akampion.com

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Micromet Inc.
6707 Democracy Boulevard, Suite 505 Bethesda USA

WKN:
A0JMQD; ISIN: US59509C1053;
Listed: Xetra Stars in Frankfurter Wertpapierbörse;
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