MorphoSys AG (FSE: MOR; Prime Standard Segment, TecDAX) announced
today that Novartis has committed to a ten-year term of the strategic
alliance originally signed in December 2007. The decision was based
on the successful achievement by MorphoSys of certain predefined
improvements in its proprietary technologies. The collaboration will
now run until 2017 and may be extended by Novartis for an additional
two years beyond that time under the same financial terms and
conditions. The option for Novartis to terminate the alliance after
seven years is thereby removed.
"Today's news further increases the secured value for MorphoSys from
our largest therapeutic alliance to date. Our alliance with Novartis
is developing well and we are therefore delighted to be able to
exploit its full potential", commented Dr. Simon Moroney, Chief
Executive Officer of MorphoSys AG. "The latest technological
advances in our core antibody platform contributed significantly to
achieving this extension."
In December 2007, MorphoSys and Novartis forged one of the industry's
most comprehensive strategic alliances in the discovery and
development of biopharmaceuticals. Financial terms include committed
payments in excess of US$600 million over the ten-year lifetime of
the agreement. Within the collaboration, two antibody programs are
currently in clinical development.
For further information please contact: Dr. Claudia Gutjahr-LÃ¶ser,
Head of Corporate Communications & Investor Relations, Tel: +49 (0)
89 / 899 27-122, email@example.com or Mario Brkulj, Senior
Manager Corporate Communications & Investor Relations, Tel: +49 (0)
89 / 899 27-454, firstname.lastname@example.org
MorphoSys is a publicly traded biotechnology company focused on the
generation of fully human antibodies as a means to discover and
develop innovative antibody-based drugs against life-threatening
diseases. MorphoSys's goal is to establish HuCAL as the technology of
choice for antibody generation in research, diagnostics and
therapeutic applications. The Company currently has therapeutic and
research alliances with the majority of the world's largest
pharmaceutical companies including Boehringer Ingelheim, Centocor
Ortho Biotech Inc./Johnson & Johnson, Novartis, Pfizer and Roche.
Within these partnerships, more than 50 therapeutic antibody programs
are ongoing in which MorphoSys participates through exclusive license
and milestones payments as well as royalties on any end products.
Additionally, MorphoSys is active in the antibody research market
through its AbD Serotec business unit. The business unit has
operations in Germany (Munich), the U.S. (Raleigh, NC) and U.K.
(Oxford). For further information please visit
About the University of Melbourne / Melbourne Ventures:
Melbourne Ventures Pty Ltd is the technology commercialisation
company of the University of Melbourne, one of the top 40
Universities in the world (Times Higher Education 2008). The
University of Melbourne is renowned as Australia's leading
biomedical enterprise, training more health professionals and
attracting more nationally competitive grants for biomedical research
than any other Australian university. A wholly owned subsidiary of
the University, Melbourne Ventures provides commercialisation and IP
management expertise across the full breadth of faculties and
departments, and is responsible for negotiating licences and
investments for the transfer and commercialisation of University
developed technologies. For further information please visit our
website at www.melbourneventures.com.
HuCALÂ®, HuCAL GOLDÂ®, HuCAL PLATINUMÂ® and RapMATÂ® are registered
trademarks of MorphoSys AG
This communication contains certain forward-looking statements
concerning the MorphoSys group of companies. The forward-looking
statements contained herein represent the judgment of MorphoSys as of
the date of this release and involve risks and uncertainties. Should
actual conditions differ from the Company's assumptions, actual
results and actions may differ from those anticipated. MorphoSys does
not intend to update any of these forward-looking statements as far
as the wording of the relevant press release is concerned.
This announcement was originally distributed by Hugin. The issuer is
solely responsible for the content of this announcement.