MorphoSys Opts for Second Pre-Development Program within Strategic Antibody Alliance
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The issuer is solely responsible for the content of this announcement.
Further Expansion of the Company’s Proprietary Development Activities
MARTINSRIED, GERMANY and MUNICH, GERMANY | October 19, 2010 | MorphoSys AG (FSE: MOR; Prime Standard Segment, TecDAX) announced today that within its collaboration with Novartis it has nominated the second therapeutic antibody program for joint pre-development. The pre-development agreement provides MorphoSys with the option to enter a formal co-development for the respective program with Novartis. Until the program reaches formal co- development status, Novartis carries all "project-related" costs. MorphoSys’s share of the funded research will add to revenues in its Proprietary Development segment.
The first pre-development candidate with Novartis was announced in September 2008, giving MorphoSys the opportunity to benefit from working with a very experienced pharmaceutical partner and strengthening its own drug development capabilities.
"The options on pre-development with Novartis are an important contribution to our proprietary development activities. Including this latest addition to our pipeline, we currently pursue nine proprietary programs and partnered candidates", commented Dr. Marlies Sproll, Chief Scientific Officer of MorphoSys AG. "For the second time within this co-operation, we have chosen the opportunity to jointly develop an antibody candidate against a very promising target involved in inflammatory conditions, one of our core development areas. Over the past years, MorphoSys has built a strong proprietary development organization and progress in this segment is increasingly becoming visible."
Within its strategic collaboration with Novartis signed in 2007, MorphoSys has the potential for several co-development options which enable MorphoSys to participate in the development of a selection of projects through cost and profit sharing with financial participation reflecting its level of investment in the respective programs.
About MorphoSys:
MorphoSys is an independent biotechnology company that develops novel antibodies for therapeutic, diagnostic and research applications. The Company’s HuCAL technology is one of the most powerful methods available for generating fully human antibodies. By successfully applying this and other proprietary technologies, MorphoSys has become a leader in the field of therapeutic antibodies, one of the fastest-growing drug classes in human health- care. Through its alliances with some of the world’s leading pharmaceutical companies, MorphoSys has created a pipeline of more than 60 drug candidates. The Company is expanding its drug pipeline by adding new partnered programs, and by building a portfolio of fully-owned therapeutic antibodies. For its proprietary portfolio, the Company is focused on the areas of oncology and inflammation. Its most advanced program MOR103, a first-in-class, fully human antibody against GM-CSF, is currently tested in a Phase Ib/IIa trial in rheumatoid arthritis patients. Via its business unit AbD Serotec, MorphoSys is expanding the reach of its technologies in the diagnostics and research markets. MorphoSys is headquartered in Munich, Germany and listed on the Frankfurt Stock Exchange under the symbol "MOR". For further information, visit http://www.morphosys.com/
SOURCE: MorphoSys AG
Post Views: 93
MorphoSys Opts for Second Pre-Development Program within Strategic Antibody Alliance
Processed and transmitted by Thomson Reuters.
The issuer is solely responsible for the content of this announcement.
Further Expansion of the Company’s Proprietary Development Activities
MARTINSRIED, GERMANY and MUNICH, GERMANY | October 19, 2010 | MorphoSys AG (FSE: MOR; Prime Standard Segment, TecDAX) announced today that within its collaboration with Novartis it has nominated the second therapeutic antibody program for joint pre-development. The pre-development agreement provides MorphoSys with the option to enter a formal co-development for the respective program with Novartis. Until the program reaches formal co- development status, Novartis carries all "project-related" costs. MorphoSys’s share of the funded research will add to revenues in its Proprietary Development segment.
The first pre-development candidate with Novartis was announced in September 2008, giving MorphoSys the opportunity to benefit from working with a very experienced pharmaceutical partner and strengthening its own drug development capabilities.
"The options on pre-development with Novartis are an important contribution to our proprietary development activities. Including this latest addition to our pipeline, we currently pursue nine proprietary programs and partnered candidates", commented Dr. Marlies Sproll, Chief Scientific Officer of MorphoSys AG. "For the second time within this co-operation, we have chosen the opportunity to jointly develop an antibody candidate against a very promising target involved in inflammatory conditions, one of our core development areas. Over the past years, MorphoSys has built a strong proprietary development organization and progress in this segment is increasingly becoming visible."
Within its strategic collaboration with Novartis signed in 2007, MorphoSys has the potential for several co-development options which enable MorphoSys to participate in the development of a selection of projects through cost and profit sharing with financial participation reflecting its level of investment in the respective programs.
About MorphoSys:
MorphoSys is an independent biotechnology company that develops novel antibodies for therapeutic, diagnostic and research applications. The Company’s HuCAL technology is one of the most powerful methods available for generating fully human antibodies. By successfully applying this and other proprietary technologies, MorphoSys has become a leader in the field of therapeutic antibodies, one of the fastest-growing drug classes in human health- care. Through its alliances with some of the world’s leading pharmaceutical companies, MorphoSys has created a pipeline of more than 60 drug candidates. The Company is expanding its drug pipeline by adding new partnered programs, and by building a portfolio of fully-owned therapeutic antibodies. For its proprietary portfolio, the Company is focused on the areas of oncology and inflammation. Its most advanced program MOR103, a first-in-class, fully human antibody against GM-CSF, is currently tested in a Phase Ib/IIa trial in rheumatoid arthritis patients. Via its business unit AbD Serotec, MorphoSys is expanding the reach of its technologies in the diagnostics and research markets. MorphoSys is headquartered in Munich, Germany and listed on the Frankfurt Stock Exchange under the symbol "MOR". For further information, visit http://www.morphosys.com/
SOURCE: MorphoSys AG
Post Views: 93
