MorphoSys AG (Frankfurt: MOR; Prime Standard Segment; TecDAX) announced today the
successful conclusion of a first therapeutic antibody program with Novartis. MorphoSys
generated numerous fully human antibodies fulfilling previously defined success criteria
against a cancer disease-related target molecule from Novartis, and thus achieved the first
performance-related milestone in the cooperation. The amount of the associated milestone
payment made to MorphoSys was not disclosed. The project work commenced in
September 2004 and was completed within 11 months.
In May 2004, MorphoSys and Novartis forged a strategic antibody alliance to jointly develop
new antibody-based therapeutic substances against a range of illnesses for which the
current treatment is inadequate. As part of the cooperation, Novartis decided to acquire an
equity stake in MorphoSys worth around EUR 9 million.
'We are very pleased about the rapid progress of the cooperation with Novartis and look
forward to further successful development in the future,' stated Dr. Simon Moroney, Chief
Executive Officer of MorphoSys AG.