The financial performance of its partnered discovery segment provides the MorphoSys Group with the financial wherewithal to channel substantial investment into proprietary R&D. MorphoSys has developed proprietary therapeutic antibody candidates in the area of inflammation and oncology. These candidates are available for future partnering. Its most advanced program MOR103, a first-in-class, fully human antibody against GM-CSF, has successfully concluded a Phase Ib/IIa trial in rheumatoid arthritis patients. MOR103 is part of MorphoSys's collaboration with GlaxoSmithKline.