Covington & Burling represented Moelis & Company, financial advisor to Amgen, in its cash acquisition of Micromet, Inc. in a deal valued at approximately $1.16 billion.

The acquisition, reported on Jan. 26, includes blinatumomab, a Bispecific T cell Engager antibody in Phase 2 clinical development for acute lymphoblastic leukemia. Blinatumomab is also in clinical development for the treatment of non-Hodgkin’s lymphoma, and could have applications in other hematologic malignancies.

Moelis is a global investment bank that provides financial advisory, capital raising and asset management services to a broad client base including corporations, institutions and governments. Amgen discovers, develops, manufactures and delivers innovative human therapeutics. Micromet is a biopharmaceutical company focused on the discovery, development and commercialization of innovative antibody-based therapies for the treatment of cancer.

The New York-based Covington corporate team was led by partner J. D. Weinberg, with associate Richard Kruger.