MorphoSys and Schering-Plough Sign R&D Agreement
Press Release
Martinsried/Munich, Germany, May 17, 2006
MorphoSys and Schering-Plough Sign R&D Agreement
MorphoSys AG (Frankfurt: MOR; Prime Standard Segment, TecDAX) announced today the
signing of an initial two year license agreement with Schering-Plough Corporation for the use
of MorphoSys’s HuCAL GOLD® technology in the research and development of human
therapeutic antibodies. Under the terms of the agreement, MorphoSys grants access to its
proprietary antibody library to Schering-Plough for use in its drug discovery programs at one
research site. Furthermore, the contract provides Schering-Plough with the option to develop
HuCAL®-derived therapeutic antibodies against up to 10 disease-related targets. According
to the agreement, MorphoSys will receive an up-front payment, annual user fees and
optional R&D funding. For therapeutic antibody projects undertaken by Schering-Plough,
MorphoSys is eligible to receive license and milestone payments related to the successful
advancement of projects in clinical development, and royalties on HuCAL® antibodies
developed under the agreement. Further financial details were not disclosed.
During the initial two-year term of the agreement, which also provides Schering-Plough with
the option of an extension of up to three more years, MorphoSys’s HuCAL GOLD® antibody
library will be installed at Schering-Plough’s research site in Palo Alto, California, the location
of Schering-Plough Biopharma, an affiliate of Schering-Plough Research Institute.
“The agreement signed today is our twelfth with a top 20 pharmaceutical company”,
commented Dr. Simon Moroney, Chief Executive Officer of MorphoSys. “This deal marks
further progress in the successful execution of our strategy to strengthen the pipeline of
therapeutic antibodies based on our proprietary technology through strategic deals with
quality partners.”
MorphoSys will hold its ordinary Shareholders' Assembly today at 13:00 CET in Munich,
Germany, to present the Annual Financial Results 2005 and report on current developments.
In addition, MorphoSys offers participants the opportunity to follow the Management Report
through a slide presentation (in German only) online at morphosys.com. |
