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Micromet May Head East

Carlsbad-based Micromet Inc., formerly known as CancerVax Corp., is seeking a headquarters on the East Coast.

Micromet has 10 of its 95 employees in Carlsbad, and was formed in May by the merger of Carlsbad’s once promising CancerVax and Germany’s Micromet.

Munich, Germany-based spokeswoman Evelyn Wolf said the firm is not seeking a California headquarters because of the time-zone difference between California and Germany, where the firm’s research labs are located.

“California has a good nine-hour time shift from Germany,” Wolf said, adding, “There are logistical reasons. We need the right premises, the right infrastructure.”

She would not elaborate. The Carlsbad jobs include administrative, financial and business development positions.

CancerVax, founded by San Diego biotechnology pioneer David Hale, had once partnered with Swiss biotech firm Serono to develop Canvaxin , a drug to treat cancer. But the company discontinued development in January after stage three studies failed to improve survival rates among skin cancer patients. The public company proceeded to lay off more than 100 employees.

Today, the combined drug development firms have two drugs in early stage and midstage clinical trials, both for cancer, as well as several preclinical compounds. Hale remains the merged firm’s board of directors chairman.

Micromet stock, which trades on the Nasdaq under the symbol MITI, was down 8 cents, or nearly 3 percent, at mid-morning Aug. 22.

, Katie Weeks

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