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Biotech / Medical : MorphoSys AG (MOR)
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To: michael_f_murphy who started this subject10/24/2002 5:36:48 AM
From: nigel bates   of 421
 
MorphoSys Announces Share Issuance for XOMA License

MARTINSRIED and MUNICH, Germany, Oct.24/PRNewswire-FirstCall/ -- MorphoSys AG (Neuer Markt: MOR), the Munich-based biotechnology company, today announced that the Management Board has resolved to issue 303,466 shares to XOMA after a capital increase against contribution in kind, subject to registration in the commercial register. As a contribution, XOMA granted a license to MorphoSys as part of a transaction announced earlier this year. The share capital was raised under exclusion from preemptive rights under the Company's articles of association. The shares issued to XOMA represent approx. 7.7 % of the outstanding share capital of MorphoSys AG.
In February 2002, MorphoSys and XOMA signed a cross-license agreement for their antibody-related technologies. MorphoSys and its partners received a license from XOMA to use XOMA's antibody expression technology for the development and production of antibody products using MorphoSys' phage display-based HuCAL® antibody library. XOMA receives a license to use the MorphoSys HuCAL® GOLD library and, among other financial terms, a one-time license payment from MorphoSys. The share issuance announced today represents full and complete satisfaction of the outstanding obligations under said transaction...
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