December 22, 2003 / 12:00 am, CET
MorphoSys AG (Frankfurt Stock Exchange: MOR; Prime Standard Segment) announced today that it has entered into a collaboration with Pfizer Inc for the development of therapeutic antibodies. MorphoSys will use its HuCAL® GOLD library to generate therapeutic antibodies against multiple targets from Pfizer. Pfizer will carry out the preclinical and clinical development and the subsequent marketing of resultant products. MorphoSys will receive an upfront payment, which will further strengthen its cash position, and, for each antibody developed in the collaboration, research support and milestone payments. In addition, MorphoSys stands to receive royalty payments, on any antibody products coming out of the collaboration. The potential value to MorphoSys in committed funding and potential developmental milestone payments on future products is in excess of US$ 50 million, not including royalties.
During the five-year term of the agreement, MorphoSys will use its HuCAL® GOLD antibody technology to select and optimize fully human antibodies against disease targets from Pfizer. MorphoSys brings its expertise in the high-throughput selection and subsequent optimization of fully human antibodies fulfilling predefined criteria to combine with Pfizer’s capabilities for disease target identification and clinical development.
“We are delighted to enter this alliance with Pfizer focused on developing antibodies derived from our HuCAL® technology,\" said Dr. Simon Moroney, Chief Executive Officer of MorphoSys AG. “This partnership is a further successful step in the execution of our strategy to maximize the number of therapeutic antibodies being developed by committed, high quality partners.\"
About MorphoSys:MorphoSys develops and applies innovative technologies for the production of synthetic antibodies, which accelerate drug discovery and target characterization. Founded in 1992, the Company\'s proprietary Human Combinatorial Antibody Library (HuCALâ) technology is used by researchers worldwide for human antibody generation. The Company currently has licensing and research collaborations with Bayer (Berkeley, California/USA), Biogen Inc. (Cambridge, Massachusetts/USA), Boehringer Ingelheim (Ingelheim, Germany), Bristol-Myers Squibb (Wilmington, Delaware/USA), Centocor Inc. (Malvern, Pennsylvania/USA), California/USA), GPC Biotech AG (Munich/Germany), Hoffmann-La Roche AG (Basel/Switzerland), ImmunoGen Inc. (Cambridge, Massachusetts/USA), Oridis Biomed GmbH (Graz/Austria), Pfizer Inc. (Delaware/USA), ProChon Biotech Ltd. (Rehovot/Israel), Schering AG (Berlin/Germany) and Xoma Ltd. (Berkeley, California/USA).
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:
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