Document:

Unassociated Document

    Execution
      Copy

     

    REGISTRATION
      RIGHTS AGREEMENT

     

    This
      REGISTRATION RIGHTS AGREEMENT (this “Agreement”),
      dated
      as of December 1, 2008, is by and between MICROMET, INC. (the “Company”)
      and
      KINGSBRIDGE CAPITAL LIMITED, an entity organized and existing under the laws
      of
      the British Virgin Islands, whose business address is P.O. Box 1075, Elizabeth
      House, 9 Castle Street, St. Helier, Jersey, Channel Islands (the “Investor”).

     

    WHEREAS,
      the Company and the Investor have entered into that certain Common Stock
      Purchase Agreement, dated as of the date hereof (the “Purchase
      Agreement”),
      pursuant to which the Company may issue, from time to time, to the Investor
      up
      to $75 million worth of shares of Common Stock as provided for
      therein;

     

    WHEREAS,
      pursuant to the terms of, and in partial consideration for the Investor entering
      into, the Purchase Agreement, the Company has issued to the Investor a warrant,
      exercisable from time to time, in accordance with its terms, within five (5)
      years following the six-month anniversary of the date of issuance (the
“Warrant”)
      for
      the purchase of an aggregate of up to 135,000 shares of Common Stock at a price
      specified in such Warrant;

     

    WHEREAS,
      the parties previously entered into a Common Stock Purchase Agreement dated
      as
      of August 30, 2006 (the "Prior
      Purchase Agreement"),
      pursuant to which the Investor agreed to purchase up to $25 million worth of
      shares of Common Stock from the Company on the terms and conditions set forth
      in
      the Prior Purchase Agreement; and

     

    WHEREAS,
      in connection with the Prior Purchase Agreement, the parties previously entered
      into a Registration Rights Agreement dated as of August 30, 2006 (the
      "Prior
      Registration Rights Agreement"),
      pursuant to which the Company agreed to register the shares of Common Stock
      issuable pursuant to the Prior Purchase Agreement (the "Prior
      Shares")
      and
      the shares of Common Stock (the "Prior
      Warrant Shares")
      issuable to the Investor upon exercise of a warrant issued to the Investor
      pursuant to the Prior Purchase Agreement (the "Prior
      Warrant");
      and

     

    WHEREAS,
      on September 28, 2006, the Commission declared effective the registration
      statement registering the Prior Shares and the Prior Warrant Shares (the
      "Prior
      Registration Statement");
      and

     

    WHEREAS,
      in connection with the execution of the Purchase Agreement and this Agreement,
      the parties desire to terminate the Prior Registration Rights Agreement and
      deregister the Prior Warrant Shares and the Prior Shares that have not been
      sold
      under the Prior Purchase Agreement upon the effectiveness of the Registration
      Statement described herein; and

     

    WHEREAS,
      pursuant to the terms of, and in partial consideration for, the Investor’s
      agreement to enter into the Purchase Agreement, the Company has agreed to
      provide the Investor with certain registration rights with respect to the
      Registrable Securities (as defined in the Purchase Agreement) and the Prior
      Warrant Shares as set forth herein;

    
      
        
        

      

      
        
        

        
          

        

      

      
        
        

      

    

    NOW,
      THEREFORE, in consideration of the premises, the representations, warranties,
      covenants and agreements contained herein, in the Warrant, and in the Purchase
      Agreement, and for other good and valuable consideration, the receipt and
      sufficiency of which is hereby acknowledged, intending to be legally bound
      hereby, the parties hereto agree as follows (capitalized terms used herein
      and
      not defined herein shall have the respective meanings ascribed to them in the
      Purchase Agreement):

     

    ARTICLE
      I

    REGISTRATION
      RIGHTS

     

    Section
      1.1 Registration
      Statement.

     

    (a) Filing
      of the Registration Statement.
      Upon
      the terms and subject to the conditions set forth in this Agreement, the Company
      shall file with the Commission within sixty (60) calendar days after the Closing
      Date a registration statement on Form S-3 under the Securities Act or such
      other
      form as deemed appropriate by counsel to the Company for the registration for
      the resale by the Investor of the Registrable Securities and the Prior Warrant
      Shares (the “Registration
      Statement”).

     

    (b) Effectiveness
      of the Registration Statement.
      The
      Company shall use commercially reasonable efforts (i) to have the Registration
      Statement declared effective by the Commission as soon as reasonably
      practicable, but in any event no later than one hundred eighty (180) calendar
      days after the Closing Date and (ii) to ensure that the Registration Statement
      remains in effect throughout the term of this Agreement as set forth in Section
      4.2, subject to the terms and conditions of this Agreement.

     

    (c) Regulatory
      Disapproval.
      The
      contemplated effective date for the Registration Statement as described in
      Section 1.1(b) shall be extended without default or liquidated damages hereunder
      or under the Purchase Agreement in the event that the Company’s failure to
      obtain the effectiveness of the Registration Statement on a timely basis results
      from (i) the failure of the Investor to timely provide the Company with
      information requested by the Company and necessary to complete the Registration
      Statement in accordance with the requirements of the Securities Act, or (ii)
      the
      Commission’s disapproval of the structure of the transactions contemplated by
      the Purchase Agreement, or (iii) events or circumstances that are not in any
      way
      attributable to the Company. In the event of clause (ii) above, the parties
      agree to cooperate with one another in good faith to arrive at a resolution
      acceptable to the Commission.

    
      
        
        

      

      
        -2-

        
          

        

      

      
        
        

      

    

    (d) Failure
      to Maintain Effectiveness of Registration Statement.
      In the
      event the Company fails to maintain the effectiveness of the Registration
      Statement (or the Prospectus) throughout the period set forth in
      Section 4.2, other than temporary suspensions as set forth in
      Section 1.1(e) and the Investor holds any Registrable Securities at any
      time during the period of such ineffectiveness (an “Ineffective
      Period”),
      the
      Company shall pay to the Investor in immediately available funds into an account
      designated by the Investor an amount equal to the product of (x) the total
      number of Registrable Securities issued to the Investor under the Purchase
      Agreement (which, for the avoidance of doubt, shall not include any Warrant
      Shares) and owned by the Investor at any time during such Ineffective Period
      and
      (y) the result, if greater than zero, obtained by subtracting the VWAP on
      the Trading Day immediately following the last day of such Ineffective Period
      from the VWAP on the Trading Day immediately preceding the day on which any
      such
      Ineffective Period began; provided,
      however,
      (i)
      that the foregoing payments shall not apply in respect of Registrable Securities
      that are otherwise freely tradable by the Investor or if the Company offers
      to
      repurchase from the Investor such Registrable Securities for a per share
      purchase price equal to the VWAP on the Trading Day immediately preceding the
      day on which any such Ineffective Period began and (ii) that the Company shall
      be under no obligation to supplement the Prospectus to reflect the issuance
      of
      any Shares pursuant to a Draw Down at any time prior to the day following the
      Settlement Date with respect to such Shares and that the failure to supplement
      the Prospectus prior to such time period shall not be deemed a failure to
      maintain the effectiveness of the Registration Statement (or Prospectus) for
      purposes of this Agreement (including this Section 1.1(d)).

     

    (e) Deferral
      or Suspension During a Blackout Period.
      Notwithstanding the provisions of Section 1.1(d), if in the good faith
      judgment of the Company, following consultation with legal counsel, it would
      be
      detrimental to the Company or its stockholders for the Registration Statement
      to
      be filed or for resales of Registrable Securities to be made pursuant to the
      Registration Statement due to (i) the existence of a material development
      or potential material development involving the Company that the Company would
      be obligated to disclose in the Registration Statement, which disclosure would
      be premature or otherwise inadvisable at such time or would have a Material
      Adverse Effect on the Company or its stockholders, or (ii) a filing of a
      Company-initiated registration of any class of its equity securities, which,
      in
      the good faith judgment of the Company, because such filing of the Registration
      Statement or continued resale would adversely affect or require premature
      disclosure of the filing of such Company-initiated registration (notice thereof,
      a “Blackout
      Notice”),
      the
      Company shall have the right to (A) immediately defer such filing for a
      period of not more than sixty (60) days beyond the date by which such
      Registration Statement was otherwise required hereunder to be filed or
      (B) suspend use of such Registration Statement for a period of not more
      than thirty (30) days (any such deferral or suspension period, a “Blackout
      Period”).
      The
      Investor acknowledges that it would be seriously detrimental to the Company
      and
      its stockholders for such Registration Statement to be filed (or remain in
      effect) during a Blackout Period and therefore essential to defer such filing
      (or suspend the use thereof) during such Blackout Period and agrees to cease
      any
      disposition of the Registrable Securities during such Blackout Period. The
      Company may not utilize any of its rights under this Section 1.1(e) to
      defer the filing of a Registration Statement (or suspend its effectiveness)
      more
      than six (6) times in any twelve (12) month period. In the event that, within
      fifteen (15) Trading Days following any Settlement Date, the Company gives
      a
      Blackout Notice to the Investor and the VWAP on the Trading Day immediately
      preceding such Blackout Period (“Old
      VWAP”)
      is
      greater than the VWAP on the first Trading Day following such Blackout Period
      that the Investor may sell its Registrable Securities pursuant to an effective
      Registration Statement (“New
      VWAP”),
      then
      the Company shall pay to the Investor, by wire transfer of immediately available
      funds to an account designated by the Investor, the “Blackout
      Amount.”
For
      the purposes of this Agreement, Blackout Amount means a percentage equal to:
      (1) one hundred percent (100%) if such Blackout Notice is delivered
      prior to the fifth (5th) Trading Day following such Settlement Date;
      (2) fifty percent (50%) if such Blackout Notice is delivered on or after
      the fifth (5th) Trading Day following such Settlement Date, but prior to the
      tenth (10th) Trading Day following such Settlement Date; (3) twenty-five
      percent (25%) if such Blackout Notice is delivered on or after the tenth (10th)
      Trading Day following such Settlement Date, but prior to the fifteenth (15th)
      Trading Day following such Settlement Date; and (4) zero percent (0%)
      thereafter of: the product of (i) the number of Registrable Securities
      purchased by the Investor pursuant to the most recent Draw Down and actually
      held by the Investor immediately prior to the Blackout Period and (ii) the
      result, if greater than zero, obtained by subtracting the New VWAP from the
      Old
      VWAP; provided, however, that no Blackout Amount shall be payable in respect
      of
      Registrable Securities (A) that are otherwise freely tradable by the Investor,
      including under Rule 144, during the Blackout Period, or (B) if the Company
      offers to repurchase from the Investor such Registrable Securities for a per
      share purchase price equal to the VWAP on the Trading Day immediately preceding
      the day on which any such Ineffective Period began. For any Blackout Period
      in
      respect of which a Blackout Amount becomes due and payable, rather than paying
      the Blackout Amount, the Company may at is sole discretion, issue to the
      Investor shares of Common Stock with an aggregate market value determined as
      of
      the first Trading Day following such Blackout Period equal to the Blackout
      Amount (“Blackout
      Shares”).

    
      
        
        

      

      
        -3-

        
          

        

      

      
        
        

      

    

     

    (f) Liquidated
      Damages.
      The
      Company and the Investor hereto acknowledge and agree that the amounts payable
      under Sections 1.1(d) and 1.1(e) and the Blackout Shares deliverable under
      Section 1.1(e) above (i) shall constitute the Investor’s sole remedy with
      respect to the Company’s failure to maintain the effectiveness, or for any
      deferral or suspension, of the Registration Statement, and (ii) shall
      constitute liquidated damages and not penalties. The parties further acknowledge
      that (i) the amount of loss or damages likely to be incurred by the
      Investor is incapable or is difficult to precisely estimate, (ii) the
      amounts specified in such subsections bear a reasonable proportion and are
      not
      plainly or grossly disproportionate to the probable loss likely to be incurred
      in connection with any failure by the Company to obtain or maintain the
      effectiveness of the Registration Statement, (iii) one of the reasons for
      the Company and the Investor reaching an agreement as to such amounts was the
      uncertainty and cost of litigation regarding the question of actual damages,
      and
      (iv) the Company and the Investor are sophisticated business parties and
      have been represented by sophisticated and able legal and financial counsel
      and
      negotiated this Agreement at arm’s length. The Investor further agrees that, if
      the Company makes the payments provided for in Section 1.1(e), the Company’s
      deferral or suspension of the Registration Statement pursuant to Section 1.1(e)
      shall not constitute a material breach or default of any obligation of the
      Company to the Investor.

     

    (g) Additional
      Registration Statements.
      In the
      event and to the extent that the Registration Statement fails to register a
      sufficient amount of Common Stock necessary for the Company to issue and sell
      to
      the Investor and the Investor to purchase from the Company all of the
      Registrable Securities to be issued, sold and purchased under the Purchase
      Agreement, the Prior Warrant, and the Warrant, the Company shall, upon a
      timetable mutually agreeable to both the Company and the Investor, prepare
      and
      file with the Commission an additional registration statement or statements
      in
      order to effectuate the purpose of this Agreement, the Purchase Agreement,
      the
      Prior Warrant and the Warrant.

     

    ARTICLE
      II

    REGISTRATION
      PROCEDURES

     

    Section
      2.1 Filings;
      Information.
      The
      Company shall effect the registration with respect to the sale of the
      Registrable Securities and the Prior Warrant Shares by the Investor in
      accordance with the intended methods of disposition thereof. Without limiting
      the foregoing, the Company in each such case will do the following as
      expeditiously as possible, but in no event later than the deadline, if any,
      prescribed therefor in this Agreement:

    
      
        
        

      

      
        -4-

        
          

        

      

      
        
        

      

    

     

    (a) Subject
      to Section 1.1(e), the Company shall (i) prepare and file with the
      Commission the Registration Statement; (ii) use commercially reasonable
      efforts to cause such filed Registration Statement to become and to remain
      effective (pursuant to Rule 415 under the Securities Act or otherwise);
      (iii) prepare and file with the Commission such amendments and supplements
      to the Registration Statement and the Prospectus used in connection therewith
      as
      may be necessary to keep such Registration Statement effective for the time
      period prescribed by Section 4.2 and in order to effectuate the purpose of
      this Agreement, the Purchase Agreement, the Prior Warrant and the Warrant and
      (iv) comply with the provisions of the Securities Act with respect to the
      disposition of all securities covered by such Registration Statement during
      such
      period in accordance with the intended methods of disposition by the Investor
      set forth in such Registration Statement; provided,
      however,
      that
      the Company shall be under no obligation to supplement the Prospectus to reflect
      the issuance of any Shares pursuant to a Draw Down at any time prior to the
      Trading Day following the Settlement Date with respect to such Shares and,
      provided further,
      that
      the Investor shall be responsible for the delivery of the Prospectus to the
      Persons to whom the Investor sells the Shares, the Prior Warrant Shares and
      the
      Warrant Shares, and the Investor agrees to dispose of Registrable Securities
      in
      compliance with the plan of distribution described in the Registration Statement
      and otherwise in compliance with applicable federal and state securities
      laws.

     

    (b) Three
      (3)
      Trading Days prior to filing the Registration Statement or Prospectus, or any
      amendment or supplement thereto (excluding amendments deemed to result from
      the
      filing of documents incorporated by reference therein, supplements to the
      Prospectus required in respect of any particular Settlement Date, and
      supplements to the Registration Statement for which consent of or notice to
      the
      Investor is not required pursuant to Section 6.12 of the Purchase Agreement),
      the Company shall deliver to the Investor and to counsel representing the
      Investor, in accordance with the notice provisions of Section 4.8, copies
      of the Registration Statement, Prospectus and/or any amendments or supplements
      thereto as proposed to be filed, together with exhibits thereto, which documents
      will be subject to review by the Investor and such counsel, and thereafter
      deliver to the Investor and such counsel, in accordance with the notice
      provisions of Section 4.8, such number of copies of the Registration
      Statement, each amendment and supplement thereto (in each case including all
      exhibits thereto), the Prospectus (including each preliminary prospectus) and
      such other documents or information as the Investor or counsel may reasonably
      request in order to facilitate the disposition of the Registrable Securities,
      provided, however, that to the extent reasonably practicable, such delivery
      may
      be accomplished via electronic means.

     

    (c) After
      the
      filing of the Registration Statement, the Company shall promptly notify the
      Investor of any stop order issued or threatened by the Commission in connection
      therewith and take all commercially reasonable actions required to prevent
      the
      entry of such stop order or to remove it if entered.

    
      
        
        

      

      
        -5-

        
          

        

      

      
        
        

      

    

    (d) The
      Company shall use commercially reasonable efforts to (i) register or qualify
      the
      Registrable Securities under such other securities or blue sky laws of each
      jurisdiction in the United States as the Investor may reasonably (in light
      of
      its intended plan of distribution) request, and (ii) cause the Registrable
      Securities to be registered with or approved by such other governmental agencies
      or authorities in the United States as may be necessary by virtue of the
      business and operations of the Company and do any and all other customary acts
      and things that may be reasonably necessary or advisable to enable the Investor
      to consummate the disposition of the Registrable Securities; provided,
      however,
      that
      the Company will not be required to qualify generally to do business in any
      jurisdiction where it would not otherwise be required to qualify but for this
      Section 2.1(d), subject itself to taxation in any such jurisdiction, consent
      or
      subject itself to general service of process in any such jurisdiction, change
      any existing business practices, benefit plans or outstanding securities or
      amend or otherwise modify the Charter or Bylaws.

     

    (e) The
      Company shall make available to the Investor (and will deliver to Investor’s
      counsel), (A) subject to restrictions imposed by the United States federal
      government or any agency or instrumentality thereof, copies of all public
      correspondence between the Commission and the Company concerning the
      Registration Statement and will also make available for inspection by the
      Investor and any attorney, accountant or other professional retained by the
      Investor (collectively, the “Inspectors”),
      (B)
      upon reasonable advance notice during normal business hours all financial and
      other records, pertinent corporate documents and properties of the Company
      (collectively, the “Records”)
      as
      shall be reasonably necessary to enable them to exercise their due diligence
      responsibility, and cause the Company’s officers and employees to supply all
      information reasonably requested by any Inspectors in connection with the
      Registration Statement; provided,
      however,
      that
      any such Inspectors must agree in writing for the benefit of the Company not
      to
      use or disclose any such Records except as provided in this Section 2.1(e).
      Records that the Company determines, in good faith, to be confidential and
      that
      it notifies the Inspectors are confidential shall not be disclosed by the
      Inspectors unless the disclosure or release of such Records is requested or
      required pursuant to oral questions, interrogatories, requests for information
      or documents or a subpoena or other order from a court of competent jurisdiction
      or other judicial or governmental process; provided,
      however,
      that
      prior to any disclosure or release pursuant to the immediately preceding clause,
      the Inspectors shall provide the Company with prompt notice of any such request
      or requirement so that the Company may seek an appropriate protective order
      or
      waive such Inspectors’ obligation not to disclose such Records; and,
provided,
      further,
      that if
      failing the entry of a protective order or the waiver by the Company permitting
      the disclosure or release of such Records, the Inspectors, upon advice of
      counsel, are compelled to disclose such Records, the Inspectors may disclose
      that portion of the Records that counsel has advised the Inspectors that the
      Inspectors are compelled to disclose; provided,
      however,
      that
      upon any such required disclosure, such Inspector shall use his or her best
      efforts to obtain reasonable assurances that confidential treatment will be
      afforded such information. The Investor agrees that information obtained by
      it
      solely as a result of such inspections (not including any information obtained
      from a third party who, insofar as is known to the Investor after reasonable
      inquiry, is not prohibited from providing such information by a contractual,
      legal or fiduciary obligation to the Company) shall be deemed confidential
      and
      shall not be used for any purposes other than as indicated above or by it as
      the
      basis for any market transactions in the securities of the Company or its
      affiliates unless and until such information is made generally available to
      the
      public. The Investor further agrees that it will, upon learning that disclosure
      of such Records is sought in a court of competent jurisdiction, give notice
      to
      the Company and allow the Company, at its expense, to undertake appropriate
      action to prevent disclosure of the Records deemed confidential.

    
      
        
        

      

      
        -6-

        
          

        

      

      
        
        

      

    

     

    (f) The
      Company shall otherwise comply in all material respects with all applicable
      rules and regulations of the Commission, including, without limitation,
      compliance with applicable reporting requirements under the Exchange
      Act.

     

    (g) The
      Company shall appoint (or shall have appointed) a transfer agent and registrar
      for all of the Registrable Securities covered by such Registration Statement
      not
      later than the effective date of such Registration Statement.

     

    (h) The
      Investor shall cooperate with the Company, as reasonably requested by the
      Company, in connection with the preparation and filing of any Registration
      Statement hereunder. The Company may require the Investor to promptly furnish
      in
      writing to the Company such information as may be required in connection with
      such registration including, without limitation, all such information as may
      be
      requested by the Commission or the FINRA or any state securities commission
      and
      all such information regarding the Investor, the Registrable Securities held
      by
      the Investor and the intended method of disposition of the Registrable
      Securities. The Investor agrees to provide such information requested in
      connection with such registration within five (5) business days after receiving
      such written request and the Company shall not be responsible for any delays
      in
      obtaining or maintaining the effectiveness of the Registration Statement caused
      by the Investor’s failure to timely provide such information.

     

    (i) Upon
      receipt of a Blackout Notice from the Company, the Investor shall immediately
      discontinue disposition of Registrable Securities pursuant to the Registration
      Statement covering such Registrable Securities until (i) the Company
      advises the Investor that the Blackout Period has terminated and (ii) the
      Investor receives copies of a supplemented or amended prospectus, if necessary.
      If so directed by the Company, the Investor will deliver to the Company (at
      the
      expense of the Company) or destroy (and deliver to the Company a certificate
      of
      destruction) all copies in the Investor’s possession (other than a limited
      number of file copies) of the prospectus covering such Registrable Securities
      that is current at the time of receipt of such notice.

     

    (j) On
      the
      Effective Date, the Company shall make a filing with the Commission to
      deregister the Prior Warrant Shares and the Prior Shares that have not been
      sold
      under the Prior Purchase Agreement.

     

    Section
      2.2 Registration
      Expenses.
      Except
      as set forth in Section 10.01 of the Purchase Agreement, the Company shall
      pay
      all registration expenses incurred in connection with the Registration Statement
      (the “Registration
      Expenses”),
      including, without limitation: (i) all registration, filing, securities
      exchange listing and fees required by the National Association of Securities
      Dealers, (ii) all registration, filing, qualification and other fees and
      expenses of compliance with securities or blue sky laws (including reasonable
      fees and disbursements of counsel in connection with blue sky qualifications
      of
      the Registrable Securities), (iii) all word processing, duplicating,
      printing, messenger and delivery expenses, (iv) the Company’s internal
      expenses (including, without limitation, all salaries and expenses of its
      officers and employees performing legal or accounting duties), (v) the fees
      and expenses incurred by the Company in connection with the listing of the
      Registrable Securities, (vi) reasonable fees and disbursements of counsel
      for the Company and customary fees and expenses for independent certified public
      accountants retained by the Company (including the expenses of any special
      audits or comfort letters or costs associated with the delivery by independent
      certified public accountants of such special audit(s) or comfort
      letter(s), (vii) the
      fees and expenses of any special experts retained by the Company in connection
      with such registration and amendments and supplements to the Registration
      Statement and Prospectus, and (viii) premiums and other costs of the Company
      for
      policies of insurance against liabilities of the Company arising out of any
      public offering of the Registrable Securities being registered to the extent
      the
      Company in its discretion elects to obtain and maintain insurance. Any fees
      and
      disbursements of underwriters, broker-dealers or investment bankers, including
      without limitation underwriting fees, discounts, transfer taxes or commissions,
      and any other fees or expenses (including legal fees and expenses) if any,
      attributable to the sale of Registrable Securities, shall be payable by each
      holder of Registrable Securities pro
      rata
      on the
      basis of the number of Registrable Securities of each such holder that are
      included in a registration under this Agreement.

    
      
        
        

      

      
        -7-

        
          

        

      

      
        
        

      

    

     

    ARTICLE
      III

    INDEMNIFICATION

     

    Section
      3.1 Indemnification.
      The
      Company agrees to indemnify and hold harmless the Investor, its partners,
      affiliates, officers, directors, employees and duly authorized agents, and
      each
      Person or entity, if any, who controls the Investor within the meaning of
      Section 15 of the Securities Act or Section 20 of the Exchange Act,
      together with the partners, affiliates, officers, directors, employees and
      duly
      authorized agents of such controlling Person or entity (collectively, the
“Controlling
      Persons”),
      from
      and against any loss, claim, damage, liability, costs and expenses (including,
      without limitation, reasonable attorneys’ fees and disbursements and costs and
      expenses of investigating and defending any such claim) (collectively,
“Damages”),
      joint
      or several, and any action or proceeding in respect thereof to which the
      Investor, its partners, affiliates, officers, directors, employees and duly
      authorized agents, and any Controlling Person, may become subject under the
      Securities Act or otherwise, as incurred, insofar as such Damages (or actions
      or
      proceedings in respect thereof) arise out of, or are based upon, any untrue
      statement or alleged untrue statement of a material fact contained in any
      Registration Statement, or in any preliminary prospectus, final prospectus,
      summary prospectus, amendment or supplement relating to the Registrable
      Securities or arises out of, or are based upon, any omission or alleged omission
      to state therein a material fact required to be stated therein or necessary
      to
      make the statements therein under the circumstances not misleading, and shall
      reimburse the Investor, its partners, affiliates, officers, directors, employees
      and duly authorized agents, and each such Controlling Person, for any legal
      and
      other expenses reasonably incurred by the Investor, its partners, affiliates,
      officers, directors, employees and duly authorized agents, or any such
      Controlling Person, as incurred, in investigating or defending or preparing
      to
      defend against any such Damages or actions or proceedings; provided,
      however,
      that
      the Company shall not be liable to the extent that any such Damages arise out
      of
      the Investor’s (or any other indemnified Person’s) (i) failure to send or give a
      copy of the final prospectus or supplement (as then amended or supplemented)
      to
      the persons asserting an untrue statement or alleged untrue statement or
      omission or alleged omission at or prior to the written confirmation of the
      sale
      of Registrable Securities to such person if such statement or omission was
      corrected in such final prospectus or supplement or (ii) written confirmation
      of
      the sale of Registrable Securities purchased in any specific Draw Down prior
      to
      the filing of a supplement to the Prospectus to reflect such Draw Down (provided
      the Company is in compliance with its covenants with respect to the filing
      of
      such supplement); provided,
      further,
      that
      the Company shall not be liable to the extent that any such Damages arise out
      of
      or are based upon an untrue statement or alleged untrue statement or omission
      or
      alleged omission made in such Registration Statement, or any such preliminary
      prospectus, final prospectus, summary prospectus, amendment or supplement in
      reliance upon and in conformity with written information furnished to the
      Company by or on behalf of the Investor or any other person who participates
      as
      an underwriter in the offering or sale of such securities, in either case,
      specifically stating that it is for use in the preparation thereof. In
      connection with any Registration Statement with respect to which the Investor
      is
      participating, such Investor will indemnify and hold harmless, to the same
      extent and in the same manner as set forth in the preceding paragraph, the
      Company, each of its partners, affiliates, officers, directors, employees and
      duly authorized agents of such controlling Person (each a “Company
      Indemnified Person”)
      against any Damages to which any Company Indemnified Person may become subject
      under the Securities Act, the Exchange Act or otherwise, insofar as such Damages
      arise out of or are based upon (a) any untrue statement or alleged untrue
      statement of a material fact contained in any Registration Statement, or in
      any
      preliminary prospectus, final prospectus, summary prospectus, amendment or
      supplement relating to the Registrable Securities or arise out of, or are based
      upon, any omission or alleged omission to state therein a material fact required
      to be stated therein or necessary to make the statements therein under the
      circumstances not misleading to the extent that such violation occurs in
      reliance upon and in conformity with written information furnished to the
      Company by the Investor or on behalf of the Investor expressly for use in
      connection with such Registration Statement, (b) any failure by the Investor
      to
      comply with prospectus delivery requirements of the Securities Act, the Exchange
      Act or any other law or legal requirement applicable to sales under the
      Registration Statement, or (c) a written confirmation of the sale of Registrable
      Securities purchased by such Investor in any specific Draw Down prior to the
      filing of a supplement to the Prospectus to reflect such Draw Down (provided
      the
      Company is in compliance with its covenants with respect to the filing of such
      supplement).

    
      
        
        

      

      
        -8-

        
          

        

      

      
        
        

      

    

     

    Section
      3.2 Conduct
      of Indemnification Proceedings.
      All
      claims for indemnification under Section 3.1 shall be asserted and resolved
      in accordance with the provisions of Section 9.02 of the Purchase
      Agreement.

     

    Section
      3.3 Additional
      Indemnification.
      Indemnification similar to that specified in the preceding paragraphs of this
      Article 3 (with appropriate modifications) shall be given by the Company and
      the
      Investor with respect to any required registration or other qualification of
      securities under any federal or state law or regulation of any governmental
      authority other than the Securities Act. The provisions of this Article III
      shall be in addition to any other rights to indemnification, contribution or
      other remedies which an Indemnified Party or a Company Indemnified Person may
      have pursuant to law, equity, contract or otherwise.

     

    To
      the
      extent that any indemnification provided for herein is prohibited or limited
      by
      law, the indemnifying party will make the maximum contribution with respect
      to
      any amounts for which it would otherwise be liable under this Article III
      to the fullest extent permitted by law. However, (a) no contribution will
      be made under circumstances where maker of such contribution would not have
      been
      required to indemnify the indemnified party under the fault standards set forth
      in this Article III, (b) if the Investor is guilty of fraudulent
      misrepresentation (within the meaning of Section 11(f) of the Securities Act)
      the Investor will not be entitled to contribution from any Person who is not
      guilty of such fraudulent misrepresentation, and (c) contribution (together
      with
      any indemnification obligations under this Agreement) by the Investor will
      be
      limited in amount to the proceeds received by the Investor from sales of
      Registrable Securities.

    
      
        
        

      

      
        -9-

        
          

        

      

      
        
        

      

    

     

    ARTICLE
      IV

    MISCELLANEOUS

     

    Section
      4.1 No
      Outstanding Registration Rights.
      Except
      as otherwise disclosed in accordance with the Purchase Agreement or in the
      Prior
      Registration Rights Agreement or Commission Documents, the Company represents
      and warrants to the Investor that there is not in effect on the date hereof
      any
      agreement by the Company pursuant to which any holders of securities of the
      Company have a right to cause the Company to register or qualify such securities
      under the Securities Act or any securities or blue sky laws of any
      jurisdiction.

     

    Section
      4.2 Term.
      The
      registration rights provided to the holders of Registrable Securities hereunder,
      and the Company’s obligation to keep the Registration Statement effective, shall
      terminate at the earlier of (i) such time that is two years following the
      termination of the Purchase Agreement, (ii) such time as all Registrable
      Securities and Prior Warrant Shares have been issued and have ceased to be
      Registrable Securities, or (iii) upon the consummation of an “Excluded
      Merger or Sale” as defined in the Warrant. Notwithstanding the foregoing,
      paragraph (d) of Section 1.1, Article III, Section 4.7,
      Section 4.8, Section 4.9, Section 4.10 and Section 4.13
      shall survive the termination of this Agreement.

     

    Section
      4.3 Rule 144.
      The
      Company will, at its expense, promptly take such action as holders of
      Registrable Securities may reasonably request to enable such holders of
      Registrable Securities to sell Registrable Securities without registration
      under
      the Securities Act within the limitation of the exemptions provided by
      (a) Rule 144 under the Securities Act (“Rule
      144”),
      as
      such Rule may be amended from time to time, or (b) any similar rule or
      regulation hereafter adopted by the Commission. If at any time the Company
      is
      not required to file such reports, it will, at its expense, forthwith upon
      the
      written request of any holder of Registrable Securities, make available adequate
      current public information with respect to the Company within the meaning of
      paragraph (c)(2) of Rule 144 or such other information as necessary to
      permit sales pursuant to Rule 144. Upon the request of the Investor, the
      Company will deliver to the Investor a written statement, signed by the
      Company’s principal financial officer, as to whether it has complied with such
      requirements.

     

    Section
      4.4 Certificate.
      The
      Company will, at its expense, forthwith upon the request of any holder of
      Registrable Securities, deliver to such holder a certificate, signed by the
      Company’s principal financial officer, stating (a) the Company’s name,
      address and telephone number (including area code), (b) the Company’s
      Internal Revenue Service identification number, (c) the Company’s Commission
      file number, (d) the number of shares of each class of Stock outstanding as
      shown by the most recent report or statement published by the Company, and
      (e) whether the Company has filed the reports required to be filed under
      the Exchange Act for a period of at least ninety (90) days prior to the
      date of such certificate and in addition has filed the most recent annual report
      required to be filed thereunder.

    
      
        
        

      

      
        -10-

        
          

        

      

      
        
        

      

    

     

    Section
      4.5 Amendment
      And Modification.
      Any
      provision of this Agreement may be waived, provided that such waiver is set
      forth in a writing executed by both parties to this Agreement. The provisions
      of
      this Agreement, including the provisions of this sentence, may be amended,
      modified or supplemented, and waivers or consents to departures from the
      provisions hereof may be given, only with the written consent of the Investor
      and the Company. No course of dealing between or among any Person having any
      interest in this Agreement will be deemed effective to modify, amend or
      discharge any part of this Agreement or any rights or obligations of any person
      under or by reason of this Agreement.

     

    Section
      4.6 Successors
      and Assigns; Entire Agreement.
      This
      Agreement and all of the provisions hereof shall be binding upon and inure
      to
      the benefit of the parties hereto and their respective successors and permitted
      assigns. The Company may assign this Agreement at any time in connection with
      a
      sale or acquisition of the Company, whether by merger, consolidation, sale
      of
      all or substantially all of the Company’s assets, or similar transaction,
      without the consent of the Investor, provided that the successor or acquiring
      Person or entity agrees in writing to assume all of the Company’s rights and
      obligations under this Agreement. The Investor may assign its rights and
      obligations under this Agreement only to (i) an affiliate that meets all
      applicable requirements of federal and state securities laws, or (ii) with
      the
      prior written consent of the Company, and any purported assignment by the
      Investor other than as set forth above shall be null and void. This Agreement,
      together with the Purchase Agreement and the Warrant sets forth the entire
      agreement and understanding between the parties as to the subject matter hereof
      and merges and supersedes all prior discussions, agreements and understandings
      of any and every nature among them.

     

    Section
      4.7 Severability.
      If any
      provision of this Agreement becomes or is declared by a court of competent
      jurisdiction to be illegal, unenforceable or void, this Agreement shall continue
      in full force and effect without said provision; provided
      that if
      the severance of such provision materially changes the economic benefits of
      this
      Agreement to either party as such benefits are anticipated as of the date
      hereof, then such party may terminate this Agreement on five (5) Business Days
      prior written notice to the other party. In such event, the Purchase Agreement
      will terminate simultaneously with the termination of this
      Agreement.

     

    Section
      4.8 Notices.
      All
      notices, demands, requests, consents, approvals, and other communications
      required or permitted hereunder shall be given in accordance with
      Section 10.04 of the Purchase Agreement.

     

    Section
      4.9 Governing
      Law; Dispute Resolution.
      This
      Agreement shall be construed under the laws of the State of New
      York.

     

    Section
      4.10 Headings.
      The
      headings in this Agreement are for convenience of reference only and shall
      not
      constitute a part of this Agreement, nor shall they affect their meaning,
      construction or effect.

     

    Section
      4.11 Counterparts.
      This
      Agreement may be executed in multiple counterparts, each of which shall be
      deemed to be an original instrument and all of which together shall constitute
      one and the same instrument.

    
      
        
        

      

      
        -11-

        
          

        

      

      
        
        

      

    

     

    Section
      4.12 Further
      Assurances.
      Each
      party shall cooperate and take such action as may be reasonably requested by
      another party in order to carry out the provisions and purposes of this
      Agreement and the transactions contemplated hereby.

     

    Section
      4.13 Absence
      of Presumption.
      This
      Agreement shall be construed without regard to any presumption or rule requiring
      construction or interpretation against the party drafting or causing any
      instrument to be drafted.

     

    Section
      4.14 Termination
      of Prior Registration Rights Agreement.
      The
      parties hereby agree that the Prior Registration Rights Agreement shall
      terminate and be of no further force or effect as of the close of business
      on
      the Effective Date.

     

    [Remainder
      of this page intentionally left blank]

    
      
        
        

      

      
        -12-

        
          

        

      

      
        
        

      

    

    

    IN
      WITNESS WHEREOF, the parties hereto have caused this Agreement to be executed
      by
      the undersigned, thereunto duly authorized, as of the date first set forth
      above.

     

    
      	
              MICROMET,
                INC.

            
	 	 
	
              By: 

            	
              /s/
                Christian Itin

            
	 	
              Name:
                Christian
                Itin

              Title:
                President
                and CEO

            
	 	 
	
              KINGSBRIDGE
                CAPITAL LIMITED

            
	 	 
	
              By:

            	/s/
              Antony Gardner-Hillman
	 	
              Antony
                Gardner-Hillman

              Director

            

    

     

    
      
        
        

      

      
        -13-Unassociated Document

    Execution
      Copy

    

    WARRANT

     

    THE
      SECURITIES EVIDENCED BY THIS WARRANT HAVE NOT BEEN REGISTERED UNDER THE U.S.
      SECURITIES ACT OF 1933, AS AMENDED (THE “SECURITIES
      ACT”),
      OR
      ANY OTHER APPLICABLE SECURITIES LAWS AND HAVE BEEN ISSUED IN RELIANCE UPON
      AN
      EXEMPTION FROM THE REGISTRATION REQUIREMENTS OF THE SECURITIES ACT AND SUCH
      OTHER SECURITIES LAWS. NEITHER THIS SECURITY NOR ANY INTEREST OR PARTICIPATION
      HEREIN MAY BE REOFFERED, SOLD, ASSIGNED, TRANSFERRED, PLEDGED, ENCUMBERED,
      HYPOTHECATED OR OTHERWISE DISPOSED OF, EXCEPT PURSUANT TO AN EFFECTIVE
      REGISTRATION STATEMENT UNDER THE SECURITIES ACT OR PURSUANT TO A TRANSACTION
      WHICH IS EXEMPT FROM, OR NOT SUBJECT TO, SUCH REGISTRATION.

     

    December
      1, 2008

     

    Warrant
      to purchase up to One Hundred Thirty-Five Thousand (135,000) shares of Common
      Stock of Micromet, Inc. (the “Company”).

     

    In
      consideration for Kingsbridge Capital Limited, an entity organized and existing
      under the laws of the British Virgin Islands, whose registered address is P.O.
      Box 1075, Elizabeth House, 9 Castle Street, St. Helier, Jersey, Channel Islands
      (the “Investor”),
      agreeing to enter into that certain Common Stock Purchase Agreement, dated
      as of
      the date hereof, between the Investor and the Company (the “Agreement”),
      the
      Company hereby agrees that the Investor or any other Warrant Holder (as defined
      below) is entitled, on the terms and conditions set forth below, to purchase
      from the Company at any time during the Exercise Period (as defined below)
      up to
      one hundred thirty-five thousand (135,000) fully paid and nonassessable shares
      of common stock, par value $0.00004 per share, of the Company (the “Common
      Stock”)
      at the
      Exercise Price (hereinafter defined), as the same may be adjusted from time
      to
      time pursuant to Section 6 hereof. The resale of the shares of Common Stock
      or other securities issuable upon exercise or exchange of this Warrant is
      subject to the provisions of the Registration Rights Agreement. Capitalized
      terms used herein and not otherwise defined shall have the meanings given them
      in the Agreement.

     

    Section
      1. Definitions.

     

    “Affiliate”
shall
      mean any Person that, directly or indirectly through one or more intermediaries,
      controls or is controlled by, or is under direct or indirect common control
      with
      any other Person. For the purposes of this definition, “control,” when used with
      respect to any Person, means the power to direct the management and policies
      of
      such Person, directly or indirectly, whether through the ownership of voting
      securities, by contract or otherwise, and the term “controls” and “controlled”
have meanings correlative to the foregoing.

     

    “Business
      Day”
shall
      mean any day other than a Saturday, a Sunday or a day on which banks in New
      York
      City, New York are authorized or obligated by executive order to
      close.

     

    “Closing
      Price”
as
      of
      any particular day shall mean the closing price per share of the Company’s
      Common Stock as reported by Bloomberg L.P. on such day.

     

    
      
        
        

      

      
        
        

        
          

        

      

      
        
        

      

    

     

    “Exercise
      Period”
shall
      mean that period beginning six months after the date of this Warrant and
      continuing until (i) the expiration of the five-year period thereafter, or
      (ii)
      a Funding Default, subject in each case to earlier termination in accordance
      with Section 6 hereof.

     

    “Exercise
      Price”
shall
      mean $4.44.

     

    “Funding
      Default”
shall
      mean a failure by the Investor to accept a Draw Down Notice made by the Company
      and to acquire and pay for the Shares in accordance therewith within three
      (3)
      Business Days following the delivery of such Shares to the Investor, provided
      such Draw Down Notice was made in accordance with the terms and conditions
      of
      the Agreement (including the satisfaction or waiver of the conditions to the
      obligation of the Investor to accept a Draw Down set forth in Article VII
      of the Agreement), provided further, that such failure was reasonably within
      the
      control of the Investor.

     

    “Per
      Share Warrant Value”
shall
      mean the difference resulting from subtracting the Exercise Price from the
      average of the Closing Prices on the five Trading Days immediately preceding
      the
      Exercise Date.

     

    “Person”
shall
      mean an individual, a corporation, a partnership, a limited liability company,
      an association, a trust or other entity or organization, including a government
      or political subdivision or an agency or instrumentality thereof.

     

    “Principal
      Market”
shall
      mean the NASDAQ Global Select Market, the NASDAQ Global Market, the NASDAQ
      Capital Market, the American Stock Exchange or the New York Stock Exchange,
      whichever is at the time the principal trading exchange or market for the Common
      Stock.

     

    “SEC”
shall
      mean the United States Securities and Exchange Commission.

     

    “Trading
      Day”
shall
      mean any day other than a Saturday or a Sunday on which the Principal Market
      is
      open for trading in equity securities.

     

    “Warrant
      Holder”
shall
      mean the Investor or any permitted assignee or permitted transferee of all
      or
      any portion of this Warrant.

     

    “Warrant
      Shares”
shall
      mean those shares of Common Stock received or to be received upon exercise
      of
      this Warrant.

     

    Section
      2. Exercise.

     

    (a) Method
      of Exercise.
      This
      Warrant may be exercised in whole or in part (but not as to a fractional share
      of Common Stock), at any time and from time to time during the Exercise Period,
      by the Warrant Holder by (i) surrender of this Warrant, with the form of
      exercise attached hereto as Exhibit A completed and duly executed by the
      Warrant Holder (the “Exercise
      Notice”),
      to
      the Company at the address set forth in Section 10.04 of the Agreement,
      accompanied by payment of the Exercise Price multiplied by the number of shares
      of Common Stock for which this Warrant is being exercised (the “Aggregate
      Exercise Price”)
      or
      (ii) telecopying an executed and completed Exercise Notice to the Company and
      delivering to the Company within five (5) Business Days thereafter the original
      Exercise Notice, this Warrant and the Aggregate Exercise Price. The later of
      the
      date on which an Exercise Notice is received by the Company in accordance with
      clauses (i) or (ii) above or the Company’s receives payment of the Exercise
      Price (unless the Warrant is exercised as provided in Section 2(c) below) shall
      be deemed an “Exercise Date.”

     

    
      
        
        

      

      
        -2-

        
          

        

      

      
        
        

      

    

     

    (b) Payment
      of Aggregate Exercise Price.
      Subject
      to paragraph (c) below, payment of the Aggregate Exercise Price shall be
      made by wire transfer of immediately available funds to an account designated
      by
      the Company. If the amount of the payment received by the Company is less than
      the Aggregate Exercise Price, the Warrant Holder will be notified of the
      deficiency and shall make payment in that amount within three (3) Business
      Days.
      In the event the payment exceeds the Aggregate Exercise Price, the Company
      will
      refund the excess to the Warrant Holder within five (5) Business Days of
      receipt.

     

    (c) Cashless
      Exercise.
      In the
      event that the Warrant Shares to be received by the Warrant Holder upon exercise
      of the Warrant may not be resold pursuant to an effective registration statement
      or an exemption to the registration requirements of the Securities Act of 1933,
      as amended (the “Securities
      Act”),
      and
      applicable state laws, the Warrant Holder may, as an alternative to payment
      of
      the Aggregate Exercise Price upon exercise in accordance with paragraph (b)
      above, elect to effect a cashless exercise by so indicating on the Exercise
      Notice and including a calculation of the number of shares of Common Stock
      to be
      issued upon such exercise in accordance with the terms hereof (a “Cashless
      Exercise”).
      If a
      registration statement on Form S-1 or Form S-3 under the Securities Act, or
      such
      other form as deemed appropriate by counsel to the Company for the registration
      for the resale by the Warrant Holder of (x) the shares of Common Stock of
      the Company that may be purchased under the Agreement, (y) the Warrant
      Shares, or (z) any securities issued or issuable with respect to any of the
      foregoing by way of exchange, stock dividend or stock split or in connection
      with a combination of shares, recapitalization, merger, consolidation or other
      reorganization or otherwise, has been declared effective by the SEC and remains
      effective, the Company may, in its sole discretion, permit the Warrant Holder
      to
      elect to effect a Cashless Exercise or require the Warrant Holder to pay the
      Exercise Price of the Warrant Shares being purchased by the Warrant Holder
      under
      this Warrant. In the event of a Cashless Exercise, the Warrant Holder shall
      receive that number of shares of Common Stock determined by (i) multiplying
      the
      number of Warrant Shares for which this Warrant is being exercised by the Per
      Share Warrant Value and (ii) dividing the product by the average of the Closing
      Prices on the five Trading Days immediately preceding the Exercise Date, rounded
      to the nearest whole share. The Company shall cancel the total number of Warrant
      Shares equal to the excess of the number of the Warrant Shares for which this
      Warrant is being exercised over the number of Warrant Shares to be received
      by
      the Warrant Holder pursuant to such Cashless Exercise.

     

    (d) Replacement
      Warrant.
      In the
      event that the Warrant is not exercised in full, the number of Warrant Shares
      shall be reduced by the number of such Warrant Shares for which this Warrant
      is
      exercised, and the Company, at its expense, shall forthwith issue and deliver
      to
      or upon the order of the Warrant Holder a new Warrant of like tenor in the
      name
      of the Warrant Holder, reflecting such adjusted number of Warrant
      Shares.

     

    
      
        
        

      

      
        -3-

        
          

        

      

      
        
        

      

    

     

    Section
      3. Exercise
      Limitation.
      The
      Warrant Holder may not exercise this Warrant such that the number of Warrant
      Shares to be received pursuant to such exercise aggregated with all other shares
      of Common Stock then owned by the Warrant Holder beneficially or deemed
      beneficially owned by the Warrant Holder would result in the Warrant Holder
      owning more than 9.9% of all of such Common Stock as would be outstanding on
      such Exercise Date, as determined in accordance with Section 13(d) of the
      Exchange Act of 1934 and the rules and regulations promulgated
      thereunder.

     

    Section
      4. Delivery
      of Warrant Shares.

     

    (a) Subject
      to the terms and conditions of this Warrant, as soon as practicable after the
      exercise of this Warrant in full or in part, and in any event within ten (10)
      Business Days thereafter, the Company at its expense (including, without
      limitation, the payment by it of any applicable issue taxes) will cause to
      be
      issued in the name of and delivered to the Warrant Holder, or as the Warrant
      Holder may lawfully direct, a certificate or certificates for, or make deposit
      with the Depositary Trust Company via book-entry of, the number of validly
      issued, fully paid and non-assessable Warrant Shares to which the Warrant Holder
      shall be entitled on such exercise, together with any other stock or other
      securities or property (including cash, where applicable) to which the Warrant
      Holder is entitled upon such exercise in accordance with the provisions
      hereof.

     

    (b) This
      Warrant may not be exercised as to fractional shares of Common Stock. In the
      event that the exercise of this Warrant, in full or in part, would result in
      the
      issuance of any fractional share of Common Stock, then in such event the Warrant
      Holder shall receive the number of shares rounded to the nearest whole
      share.

     

    Section
      5. Representations,
      Warranties and Covenants of the Company.

     

    (a) The
      Warrant Shares, when issued in accordance with the terms hereof, will be duly
      authorized and, when paid for or issued in accordance with the terms hereof,
      shall be validly issued, fully paid and non-assessable.

     

    (b) The
      Company shall take all commercially reasonable actions and proceedings as may
      be
      required and permitted by applicable law, rule and regulation for the legal
      and
      valid issuance of this Warrant and the Warrant Shares to the Warrant
      Holder.

     

    (c) The
      Company has authorized and reserved for issuance to the Warrant Holder the
      requisite number of shares of Common Stock to be issued pursuant to this
      Warrant. The Company shall at all times reserve and keep available, solely
      for
      issuance and delivery as Warrant Shares hereunder, such shares of Common Stock
      as shall from time to time be issuable as Warrant Shares.

     

    (d) From
      the
      date hereof through the last date on which this Warrant is exercisable, the
      Company shall take all commercially reasonable actions to ensure that the Common
      Stock remains listed or quoted on the Principal Market.

     

    
      
        
        

      

      
        -4-

        
          

        

      

      
        
        

      

       

    

    Section
      6. Adjustment
      of the Exercise Price.
      The
      Exercise Price and, accordingly, the number of Warrant Shares issuable upon
      exercise of the Warrant, shall be subject to adjustment from time to time upon
      the happening of certain events as follows:

     

    (a) Reclassification,
      Consolidation, Merger, Mandatory Share Exchange, Sale or Transfer.

     

    (i) Upon
      occurrence of any of the events specified in subsection (a)(ii) below (the
“Adjustment
      Events”)
      while
      this Warrant is unexpired and not exercised in full, the Warrant Holder may
      in
      its sole discretion require the Company, or any successor or purchasing
      corporation, as the case may be, without payment of any additional consideration
      therefor, to execute and deliver to the Warrant Holder a new Warrant providing
      that the Warrant Holder shall have the right to exercise such new Warrant (upon
      terms not less favorable to the Warrant Holder than those then applicable to
      this Warrant) and to receive upon such exercise, in lieu of each share of Common
      Stock theretofore issuable upon exercise of this Warrant, the kind and amount
      of
      shares of stock, other securities, money or property receivable upon such
      Adjustment Event by the holder of one share of Common Stock issuable upon
      exercise of this Warrant had this Warrant been exercised immediately prior
      to
      such Adjustment Event. Such new Warrant shall provide for adjustments that
      shall
      be as nearly equivalent as may be practicable to the adjustments provided for
      in
      this Section 6.

     

    (ii) The
      Adjustment Events shall be (1) any reclassification or change of Common
      Stock (other than a change in par value, as a result of a subdivision or
      combination of Common Stock or in connection with an Excluded Merger or Sale),
      (2) any consolidation, merger or mandatory share exchange of the Company
      with or into another corporation (other than a merger or mandatory share
      exchange with another corporation in which the Company is a continuing
      corporation and which does not result in any reclassification or change other
      than a change in par value or as a result of a subdivision or combination of
      Common Stock), other than (each of the following referred to as an “Excluded
      Merger or Sale”)
      a
      transaction involving (A) sale of all or substantially all of the assets of
      the
      Company, (B) any merger, consolidation or similar transaction where the
      consideration payable to the shareholders of the Company by the acquiring Person
      consists substantially of cash or publicly traded securities, or a combination
      thereof, or where the acquiring Person does not agree to assume the obligations
      of the Company under outstanding warrants (including this Warrant). In the
      event
      of an Excluded Merger or Sale, the Company shall deliver a notice to the Warrant
      Holder at least 10 days before the consummation of such Excluded Merger or
      Sale,
      the Warrant Holder may exercise this Warrant at any time before the consummation
      of such Excluded Merger or Sale (and such exercise may be made contingent upon
      the consummation of such Excluded Merger or Sale), and any portion of this
      Warrant that has not been exercised before consummation of such Excluded Merger
      or Sale shall terminate and expire, and shall no longer be
      outstanding.

     

    (b) Subdivision
      or Combination of Shares.
      If the
      Company, at any time while this Warrant is unexpired and not exercised in full,
      shall subdivide its Common Stock, the Exercise Price shall be proportionately
      reduced as of the effective date of such subdivision, or, if the Company shall
      take a record of holders of its Common Stock for the purpose of so subdividing,
      as of such record date, whichever is earlier. If the Company, at any time while
      this Warrant is unexpired and not exercised in full, shall combine its Common
      Stock, the Exercise Price shall be proportionately increased as of the effective
      date of such combination, or, if the Company shall take a record of holders
      of
      its Common Stock for the purpose of so combining, as of such record date,
      whichever is earlier.

     

    
      
        
        

      

      
        -5-

        
          

        

      

      
        
        

      

    

     

    (c) Stock
      Dividends.
      If the
      Company, at any time while this Warrant is unexpired and not exercised in full,
      shall pay a dividend or other distribution in shares of Common Stock to all
      holders of Common Stock, then the Exercise Price shall be adjusted, as of the
      date the Company shall take a record of the holders of its Common Stock for
      the
      purpose of receiving such dividend or other distribution (or if no such record
      is taken, as at the date of such payment or other distribution), to that price
      determined by multiplying the Exercise Price in effect immediately prior to
      such
      payment or other distribution by a fraction: (i) the numerator of which shall
      be
      the total number of shares of Common Stock outstanding immediately prior to
      such
      dividend or distribution, and (ii) the denominator of which shall be the total
      number of shares of Common Stock outstanding immediately after such dividend
      or
      distribution. The provisions of this subsection (c) shall not apply under any
      of
      the circumstances for which an adjustment is provided in subsections (a) or
      (b).

     

    (d) Liquidating
      Dividends, Etc.
      If the
      Company, at any time while this Warrant is unexpired and not exercised in full,
      makes a distribution of its assets or evidences of indebtedness to the holders
      of its Common Stock as a dividend in liquidation or by way of return of capital
      or other than as a dividend payable out of earnings or surplus legally available
      for dividends under applicable law or any distribution to such holders made
      in
      respect of the sale of all or substantially all of the Company’s assets (other
      than under the circumstances provided for in the foregoing subsections
      (a) through (c)), then the Warrant Holder shall be entitled to receive upon
      exercise of this Warrant in addition to the Warrant Shares receivable in
      connection therewith, and without payment of any consideration other than the
      Exercise Price, the kind and amount of such distribution per share of Common
      Stock multiplied by the number of Warrant Shares that, on the record date for
      such distribution, are issuable upon such exercise of the Warrant (with no
      further adjustment being made following any such event which causes an
      adjustment in the number of Warrant Shares issuable), and an appropriate
      provision therefor shall be made a part of any such distribution. The value
      of a
      distribution that is paid in other than cash shall be determined in good faith
      by the Board of Directors of the Company. Notwithstanding the foregoing, in
      the
      event of a proposed dividend in liquidation or distribution to the shareholders
      made in respect of the sale of all or substantially all of the Company’s assets,
      the Company shall deliver a notice to the Warrant Holder at least 10 days before
      the consummation of such event, the Warrant Holder may exercise this Warrant
      at
      any time before the consummation of such event (and such exercise may be made
      contingent upon the consummation of such event), and any portion of this Warrant
      that has not been exercised before consummation of such event shall terminate
      and expire, and shall no longer be outstanding.

     

    Section
      7. Notices.
      Whenever the Exercise Price or number of Warrant Shares shall be adjusted
      pursuant to Section 6 hereof, the Company shall promptly prepare a
      certificate signed by its Chief Executive Officer or Chief Financial Officer
      setting forth in reasonable detail the event requiring the adjustment, the
      amount of the adjustment, the method by which such adjustment was calculated
      (including a description of the basis on which the Company’s Board of Directors
      made any determination hereunder), and the Exercise Price and number of Warrant
      Shares purchasable at that Exercise Price after giving effect to such
      adjustment, and shall promptly cause copies of such certificate to be sent
      by
      overnight courier to the Warrant Holder. In the event of any taking by the
      Company of a record of the holders of any class of securities for the purpose
      of
      determining the holders thereof who are entitled to receive any dividend (other
      than a cash dividend) or other distribution, any right to subscribe for,
      purchase or otherwise acquire any shares of stock of any class or any other
      securities or property, or to receive any other similar right accruing to a
      stockholder by virtue of ownership of shares of the Company’s capital stock, the
      Company shall mail to the Warrant Holder, at least five (5) Business Days prior
      to the date specified therein, a notice specifying the date on which any such
      record is to be taken for the purpose of such dividend, distribution or right,
      and the amount and character of such dividend, distribution or
      right.

     

    
      
        
        

      

      
        -6-

        
          

        

      

      
        
        

      

    

     

    Section
      8. No
      Impairment.
      The
      Company will not, by amendment of its Certificate or Bylaws or through any
      reorganization, transfer of assets, consolidation, merger, dissolution or issue
      or sale of securities, avoid or seek to avoid the observance or performance
      of
      any of the terms of this Warrant, but will at all times in good faith assist
      in
      the carrying out of all such terms and in the taking of all such action as
      may
      be necessary or appropriate in order to protect the rights of the Warrant Holder
      against impairment. Without limiting the generality of the foregoing, the
      Company (a) will not increase the par value of any Warrant Shares above the
      amount payable therefor on such exercise, and (b) will take all such action
      as
      may be reasonably necessary or appropriate in order that the Company may validly
      and legally issue fully paid and nonassessable Warrant Shares on the exercise
      of
      this Warrant.

     

    Section
      9. Rights
      As Stockholder.
      Except
      as set forth in Section 6 above, prior to exercise of this Warrant, the Warrant
      Holder shall not be entitled to any rights as a stockholder of the Company
      with
      respect to the Warrant Shares, including (without limitation) the right to
      vote
      such shares, receive dividends or other distributions thereon or be notified
      of
      stockholder meetings.

     

    Section
      10. Replacement
      of Warrant.
      Upon
      receipt of evidence reasonably satisfactory to the Company of the loss, theft,
      destruction or mutilation of the Warrant and, in the case of any such loss,
      theft or destruction of the Warrant, upon delivery of an indemnity agreement
      or
      security reasonably satisfactory in form and amount to the Company or, in the
      case of any such mutilation, on surrender and cancellation of such Warrant,
      the
      Company at its expense will execute and deliver, in lieu thereof, a new Warrant
      of like tenor.

     

    Section
      11. Choice
      of Law.
      This
      Warrant shall be construed under the laws of the State of New York.

     

    Section
      12. Entire
      Agreement; Amendments.
      Except
      for any written instrument concurrent or subsequent to the date hereof executed
      by the Company and the Investor, this Warrant and the Agreement contain the
      entire understanding of the parties with respect to the matters covered hereby
      and thereby. No provision of this Warrant may be waived or amended other than
      by
      a written instrument signed by the party against whom enforcement of any such
      amendment or waiver is sought.

     

    
      
        
        

      

      
        -7-

        
          

        

      

      
        
        

      

    

     

    Section
      13. Restricted
      Securities.

     

    (a) Registration
      or Exemption Required.
      This
      Warrant has been issued in a transaction exempt from the registration
      requirements of the Securities Act in reliance upon the provisions of Section
      4(2) thereof and Regulation D thereof, and/or upon such other exemption from
      the
      registration requirements of the Securities Act as may be available with respect
      to this Warrant. This Warrant and the Warrant Shares issuable upon exercise
      of
      this Warrant may not be resold except pursuant to an effective registration
      statement or an exemption to the registration requirements of the Securities
      Act
      and applicable state laws. The Company shall have no obligation to register
      the
      Warrant or the Warrant Shares except as explicitly set forth in that certain
      Registration Rights Agreement entered into by and between the Investor and
      the
      Company on even date hereof.

     

    (b) Legend.
      Any
      replacement Warrants issued pursuant to Section 2 and Section 10 hereof
      and, unless a registration statement has been declared effective by the SEC
      and
      remains effective in accordance with the Securities Act, with respect thereto,
      any Warrant Shares issued upon exercise hereof, shall bear the following
      legend:

     

    “THE
      SECURITIES EVIDENCED BY THIS CERTIFICATE HAVE NOT BEEN REGISTERED UNDER THE
      U.S.
      SECURITIES ACT OF 1933, AS AMENDED (THE “SECURITIES
      ACT”),
      OR
      ANY OTHER APPLICABLE SECURITIES LAWS AND HAVE BEEN ISSUED IN RELIANCE UPON
      AN
      EXEMPTION FROM THE REGISTRATION REQUIREMENTS OF THE SECURITIES ACT AND SUCH
      OTHER SECURITIES LAWS. NEITHER THIS SECURITY NOR ANY INTEREST OR PARTICIPATION
      HEREIN MAY BE REOFFERED, SOLD, ASSIGNED, TRANSFERRED, PLEDGED, ENCUMBERED,
      HYPOTHECATED OR OTHERWISE DISPOSED OF, EXCEPT PURSUANT TO AN EFFECTIVE
      REGISTRATION STATEMENT UNDER THE SECURITIES ACT OR PURSUANT TO A TRANSACTION
      WHICH IS EXEMPT FROM, OR NOT SUBJECT TO, SUCH REGISTRATION.”

     

    (c) No
      Other Legend or Stock Transfer Restrictions.
      No
      legend other than the one specified in Section 13(b) has been or shall be
      placed on the share certificates representing the Warrant Shares and no
      instructions or “stop transfer orders” (so called “stock transfer restrictions”)
      or other restrictions have been or shall be given to the Company’s transfer
      agent with respect thereto other than as expressly set forth in this
      Section 13.

     

    (d) Assignment.
      Assuming the conditions of Section 13(a) above regarding registration or
      exemption have been satisfied, the Warrant Holder may sell, transfer, assign,
      pledge or otherwise dispose of this Warrant (each of the foregoing, a
“Transfer”),
      in
      whole or in part, but only to an Affiliate of the Warrant Holder. The Warrant
      Holder shall deliver a written notice to the Company, substantially in the
      form
      of the Assignment attached hereto as Exhibit B, indicating the person or persons
      to whom the Warrant shall be Transferred and the respective number of Warrant
      Shares to be covered by the warrants to be Transferred to each assignee. The
      Company shall effect the Transfer within ten (10) days, and shall deliver to
      the
      Transferee(s) designated by the Warrant Holder a Warrant or Warrants of like
      tenor and terms for the appropriate number of shares. In connection with and
      as
      a condition of any such proposed Transfer, the Company may (i) request the
      Warrant Holder to provide an opinion of counsel to the Warrant Holder in form
      and substance reasonably satisfactory to the Company to the effect that the
      proposed Transfer complies with all applicable federal and state securities
      laws
      and (ii) require the proposed Transferee to make customary and reasonable
      representations to the Company in connection with such Transfer.

     

    
      
        
        

      

      
        -8-

        
          

        

      

      
        
        

      

    

     

    (e) Investor’s
      Compliance.
      Nothing
      in this Section 13 shall affect in any way the Investor’s obligations under
      any agreement to comply with all applicable securities laws upon resale of
      the
      Common Stock.

     

    Section
      14. Notices.
      All
      notices, demands, requests, consents, approvals, and other communications
      required or permitted hereunder shall be given in accordance with
      Section 10.04 of the Agreement.

     

    Section
      15. Miscellaneous.
      This
      Warrant and any term hereof may be changed, waived, discharged or terminated
      only by an instrument in writing signed by the party against which enforcement
      of such change, waiver, discharge or termination is sought. The headings in
      this
      Warrant are for purposes of reference only, and shall not limit or otherwise
      affect any of the terms hereof. The invalidity or unenforceability of any
      provision hereof shall in no way affect the validity or enforceability of any
      other provision.

     

    Section
      16. Company
      Call Right.

     

    (a) If
      a
      Funding Default occurs, the Company shall have the right to demand the surrender
      of this Warrant or any remaining portion thereof, Shares and/or cash from the
      Investor as follows (the “Call
      Right”):

     

    (i) If
      the
      Investor has not previously exercised this Warrant in full, then this Warrant
      shall automatically be deemed to have been canceled and shall have no further
      force or effect.

     

    (ii) If,
      prior
      to receiving a Call Right Notice, the Investor has previously exercised this
      Warrant with respect to some or all of the Warrant Shares, and the Investor
      has
      not previously sold such Warrant Shares, then Company shall have a right to
      purchase from the Investor that number of shares of Common Stock equal to the
      number of shares of Common Stock issued in connection with the exercise(s)
      of
      the Warrant, at a repurchase price per share equal to the cash price per share
      paid by the Investor in connection with such exercise(s). For greater certainty,
      (a) if Warrant Shares were exercised for cash, the purchase price per share
      under the Call Right shall be equal to the Exercise Price, (b) if Warrant
      Shares were exercised on a cashless exercise basis, the purchase price per
      share
      for such Warrant Shares under the Call Right shall be zero, and (c) if such
      Warrant Shares were exercised on both a cash and cashless exercise basis, the
      purchase price per share under the Call Right shall be equal to the total amount
      of cash paid in connection with such cash exercise(s) divided by the total
      number of shares of Common Stock issued in connection with all exercises of
      the
      Warrant (whether on a cash or cashless basis).

     

    
      
        
        

      

      
        -9-

        
          

        

      

      
        
        

      

    

     

    (iii) If,
      prior
      to receiving a Call Right Notice, the Investor has previously exercised this
      Warrant with respect to some or all of the Warrant Shares, and the Investor
      subsequently sold such Warrant Shares, then the Investor shall remit to the
      Company the excess, if any, of (x) the proceeds received by Investor through
      the
      sale of such Warrant Shares, over (y) the aggregate Exercise Price for such
      Warrant Shares. In the event that the Investor obtained such Warrant Shares
      through a Cashless Exercise, then the Investor shall instead remit to the
      Company all proceeds received by the Investor through the sale of such Warrant
      Shares. For the avoidance of doubt, in the event that the Investor has sold
      some
      or all of the Warrant Shares prior to receiving a Call Right Notice, then the
      right set forth in this paragraph (iii) shall constitute the sole Call Right
      of
      the Company with respect to such Warrant Shares which have been
      sold.

     

    (b) The
      Company may exercise the Call Right by delivering a notice (the “Call
      Right Notice”)
      to the
      Investor within thirty (30) days after the occurrence of a Funding Default.
      On
      the tenth (10th)
      Business Day following delivery of the Call Right Notice to the Investor, the
      Company shall tender the purchase price, if any, and the Investor shall tender
      shares of Common Stock, if any, to be sold to the Company pursuant to the Call
      Right Notice, immediately following which the Company and the Investor shall
      consummate such purchase and sale. The Call Right shall survive both the
      assignment of the Warrant by the Investor and the disposition of the Warrant
      Shares by the Investor following exercise of the Warrant.

     

    Section
      17. Absence
      of Presumption.
      This
      Warrant shall be construed without regard to any presumption or rule requiring
      construction or interpretation against the party drafting or causing any
      instrument to be drafted.

    
       

      [Remainder
        of this page intentionally left blank]

    

     

    
      
        
        

      

      
        -10-

        
          

        

      

      
        
        

      

    

    IN
      WITNESS WHEREOF, this Warrant was duly executed by the undersigned, thereunto
      duly authorized, as of the date first set forth above.

    

    
      	 	
              MICROMET,
                INC.

            
	 	 
	 	
              By:

            	
              /s/
                Christian Itin

            
	 	 	
              Name:
                Christian
                Itin

            
	 	 	
              Title:
                President
                and CEO

            

    

    

    Investor
      acknowledges and agrees to the terms and conditions of this
      Warrant.

    

    
      	 	
              KINGSBRIDGE
                CAPITAL LIMITED

            
	 	 
	 	
              By:

            	
              /s/
                Antony Gardner-Hillman 

            
	 	 	
              Antony
                Gardner-Hillman 

            
	 	 	
              Director

            
	 

    

     

    
      
        
        

      

      
        -11-

        
          

        

      

      
        
        

      

    

    EXHIBIT
      A TO THE WARRANT

     

    EXERCISE
      FORM

     

    MICROMET,
      INC.

     

    The
      undersigned hereby irrevocably exercises the right to purchase
      __________________ shares of Common Stock of Micromet, Inc., a Delaware
      corporation (the “Company”), evidenced by the attached Warrant, and (CIRCLE
      EITHER (i) or (ii)) (i) tenders herewith payment of the Aggregate Exercise
      Price
      with respect to such shares in full, in the amount of $________, in cash, by
      certified or official bank check or by wire transfer for the account of the
      Company or (ii) elects, pursuant to Section 2(c) of the Warrant, to
      convert such Warrant into shares of Common Stock of the Company on a cashless
      exercise basis, all in accordance with the conditions and provisions of said
      Warrant.

     

    The
      undersigned requests that stock certificates for such Warrant Shares be issued,
      and a Warrant representing any unexercised portion hereof be issued, pursuant
      to
      this Warrant, in the name of the registered Warrant Holder and delivered to
      the
      undersigned at the address set forth below.

     

    

    
      	
              Dated:

            	 
	 
	 
	
              Signature
                of Registered Holder

            
	 
	 
	
              Name
                of Registered Holder (Print)

            
	 
	 
	
              Address

            

    

    

    
      
        
        

      

      
        A-2

        
          

        

      

      
        
        

      

    

    EXHIBIT
      B TO THE WARRANT

     

    ASSIGNMENT

     

    (To
      be
      executed by the registered Warrant Holder desiring to transfer the
      Warrant)

     

    FOR
      VALUED RECEIVED, the undersigned Warrant Holder of the attached Warrant hereby
      sells, assigns and transfers unto the persons below named the right to purchase
      ______________ shares of Common Stock of Micromet, Inc. (the “Company”)
      evidenced by the attached Warrant and does hereby irrevocably constitute and
      appoint ______________________ attorney to transfer the said Warrant on the
      books of the Company, with full power of substitution in the
      premises.

     

    

    
      	
              Dated:

            
	 
	  
	
              Signature

            
	 
	
              Fill
                in for new Registration of Warrant:

            
	 
	 
	
              Name

            
	 
	 
	
              Address

            
	 
	 
	
              Please
                print name and address of assignee

              (including
                zip code number)

            

    

    

    
      
        
        

      

      
        B-1

Source: [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00150-of-00352.parquet"}, [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00150-of-00352.parquet"}]]