DAIICHI SANKYO Extends Alliance With MorphoSys for Use of HuCAL GOLD to Develop Novel Antibody Therapies

March 26, 2008 4:15 AM EDT

MARTINSRIED, Germany, March 26, 2008 (PRIME NEWSWIRE) -- MorphoSys AG (Frankfurt: MOR) (Prime Standard Segment:TecDAX) announced today that DAIICHI SANKYO COMPANY, LIMITED has triggered its pre-existing option to extend the current collaboration between the two companies. The collaboration, originally signed in March 2006, was to end in March 2008. Under the agreement, which is now extended for up to three more years until March 2011, DAIICHI SANKYO will continue to have access to MorphoSys's proprietary antibody library HuCAL GOLD at its research site in Tokyo. Furthermore, the extension includes an option for DAIICHI SANKYO to develop and commercialize up to 6 HuCAL-derived therapeutic antibodies, in which case MorphoSys would receive exclusive license fees, milestone payments, as well as royalties. Today, the collaboration encompasses one active therapeutic antibody program. The extension triggers an additional payment from DAIICHI SANKYO and results in increased research funding for MorphoSys. Furthermore, under the extended agreement MorphoSys continues to receive annual user fees for access to its HuCAL platform. Further financial details were not disclosed.

"We are very pleased by the successful progress in our collaboration with DAIICHI SANKYO and their decision to continue using our HuCAL GOLD technology for their in-house research," commented Dr. Simon Moroney, Chief Executive Officer of MorphoSys. "We expect this alliance will add to our burgeoning pipeline of HuCAL-based therapeutic agents."

For further information please contact: Dr. Claudia Gutjahr-Loser, Head of Corporate Communications & Investor Relations, Tel: +49 (0) 89 / 899 27-122, gutjahr-loeser@morphosys.com or Mario Brkulj, Manager Corporate Communications & Investor Relations, Tel: +49 (0) 89 / 899 27-454, brkulj@morphosys.com

About MorphoSys:

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 largest pharmaceutical companies including Boehringer Ingelheim, Centocor/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 http://www.morphosys.com/

HuCAL and HuCAL GOLD 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.

http://hugin.info/130295/R/1203269/246650.pdf

Related Categories

Press Releases

Stocks Mentioned

Add Your Comment

Name

Subject

Body

Verification can't see the text?
click here to refresh the image.
what's this?