MorphoSys Announces Pricing of IPO

March 08, 1999 / 12:00 am, CET

MorphoSys AG, the Munich-based combinatorial biology company, announced today the pricing of its intial public offering on Germany’s Neuer Markt Stock Exchange. The total offering comprised 1,030,490 Ordinary Shares at a price of EUR 25 (£17), which was at the top of the pricing range of EUR 22 to EUR 25.

Total proceeds from the offering were EUR 25.8 million (£17.8 million) excluding an overallotment option (Greenshoe) of 154.556 Ordinary Shares.

The Company's shares have been approved for quotation on the Neuer Markt and trading will begin on 9 March, 1999 under the Reuters symbol MORG.

The offering primarily focused on institutional investors throughout Europe and in a private placement in the United States to qualified institutional buyers under rule 144A of the US Securities Act. Deutsche Bank acted as lead manager, with BancBoston Robertson Stephens and SG Cowen as co-managers.

About MorphoSys:
MorphoSys develops and applies technologies which accelerate drug discovery and target characterisation. Founded in 1992, the Company has developed a proprietary capability based on combinatorial biology: the use of vast and efficiently created libraries in biomolecule discovery. MorphoSys is well positioned to take advantage of an increasing trend among pharmaceutical companies to outsource their R & D activities to small highly-specialised biotechnology firms. The Company has previously partnered with such well known pharmaceutical companies as Pharmacia & Upjohn and Boehringer Mannheim. Last year MorphoSys entered into licensing and research collaborations with DuPont Pharmaceuticals (Wilmington, Delaware) and LeukoSite (Cambridge, Mass), and most recently established a licensing agreement with Chiron Corporation (Emeryville, California).

Statements included in this press release which are not historical in nature are intended to be, and are hereby identified as, “forward-looking statements” for purposes of the safe harbour provided by Section 21E of the Securities Exchange Act of 1934, as amended by the Private Securities Litigation Reform Act of 1995. Forward-looking statements may be identified by words including “anticipates”, “believes”, “intends”, “estimates”, “expects” and similar expressions. The company cautions readers that forward-looking statements, including without limitation those relating to the company’s future operations and business prospects, are subject to certain risks and uncertainties that could cause actual results to differ materially from those indicated in the forward-looking statements. Factors that may affect future operations and business prospects include, but are not limited to, clinical and scientific results and developments concerning corporate collaborations and the company’s proprietary rights and other factors described in the prospectus relating to the company’s recent public offering.

For further information, please contact:

MorphoSys AG

Dave Lemus
Chief Financial Officer
Tel.: +49 (0) 89 / 899 27-439
Fax: +49 (0) 89 / 899 27-5309

Dr. Claudia Gutjahr-Löser
Manager Corporate Communications
Tel.: +49 (0) 89 / 899 27-122
Fax: +49 (0) 89 / 899 27-5122