MorphoSys extends Centocor deal, gets more funds
Thu Dec 23, 2004 02:07 AM ET
FRANKFURT, Dec 23 (Reuters) - German biotech firm MorphoSys (MORG.DE: Quote, Profile, Research) extended a contract to develop human therapeutic antibodies for Johnson & Johnson (JNJ.N: Quote, Profile, Research) unit Centocor until the end of 2007, MorphoSys said on Thursday.
MorphoSys said it will start two new antibody development programs next year under the deal and will receive more funding for its research from Centocor as well as an upfront payment for the extension of the deal. It did not provide financial detail.
The original agreement, initiated in 2000, had been due to end in December 2005, MorphoSys said.
Under the extended deal, the two companies will use MorphoSys' technology to develop antibodies against up to 30 disease-related molecules, MorphoSys said. MorphoSys' antibody technology is used to speed up drug discovery.
MorphoSys receives milestone and licensing payments under the deal, in addition to royalties on products which could arise from the cooperation, it said. |
