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MorphoSys AG Investor Presentation 2007

Nov 12, 2007

291_ip_2007-11-12_9ece6f51-ce74-4e15-b29f-ae63899301ba.pdf

Investor Presentation

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Deutsches Eigenkapitalforum 2007

Frankfurt, November 12, 2007

Safe Harbour

This presentation includes forward-looking statements.

Actual results could differ materially from those included in the forward-looking statements due to various risk factors and uncertainties including changes in business, economic competitive conditions, regulatory reforms, foreign exchange rate fluctuations and the availability of financing.

These and other risks and uncertainties are detailed in the Company's Prospectus.

MorphoSys at a Glance

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HuCAL: World Leading Antibody Technology

  • Antibodies can be…systematically optimized to match therapeutic application
  • Antibodies are…fully human
  • High throughput provides… economy of scale for research uses
  • Proprietary to MorphoSys

HuCAL®

(Human Combinatorial Antibody Library): A vast collection or "library" of over 12 billion human antibodies in a system that enables systematic optimization of antibody properties

Robust Intellectual Property Protected by Core Patent Families

HuCAL Library Design and Use (~2016 expiry)

  • 5 US Patents
  • 1 EU Patent (numerous EU states)
  • 1 AU Patent
  • Pending applications: CA EU JP US

TRInucleotide Mutagenesis (JHU excl. license) (~2012 expiry)

1 US Patent; EP upheld in amended form; pending in JP, CA

Disulfide Display (CysDisplay) (~2020 expiry)

  • 1 US Patent
  • EU application in late stage prosecution
  • Pending applications: AU CA EU IL JP NO US
  • Various patent applications on:
  • Ancillary technologies
  • Individual antibodies

Business Segments

Therapeutic Antibody Partnerships

  • Partner provides target, initiates program, brings disease-specific expertise
  • Responsibilities
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  • Programs exclusive on "per target" basis
  • Partnerships typically multi-year, often multi-target

Therapeutic Antibody Partnerships: Typical Program Deal Terms

HuCAL Therapeutic Antibody Pipeline

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2 proprietary therapeutic antibody programs

Roche's Alzheimer Program R1450: Effectively Targeting Amyloid-β

Mechanism

  • Plaques of the amyloid-β peptide are believed to be a cause of Alzheimer's disease
  • HuCAL antibody aimed at binding and dissolving amyloid-β plaques in the human brain

Status

  • Phase 1 studies ongoing in Denmark, Netherlands, Sweden and the UK
  • −Single dose and dose escalation
  • −Randomized, double-blind in patients
  • − Both studies with target sample below 100
  • − First results expected in 2008 (MorphoSys estimate)

Source: Nagy ZA (2003) J Mol Med 81:757-765, Truman JP (1994) Int. Immunol., 6:887-896

1D09C3 well tolerated

Dose escalating study completed

in Dec-2006

  • European phase 1 study at 3 sites
  • Status
  • Initial, promising phase 1 data published

GPC Biotech's Cancer Program 1D09C3:

  • on the cell surface required

Effectively Targeting MHC II

HuCAL-derived anti-MHC II antibody triggers programmed cell death in

activated B-cells and certain tumor cell

Bivalent interaction of MHC II molecules

Mechanism

lines

Cross-linking Antibody

Other Partnered Programs in the Clinic

Novartis

  • HuCAL antibody vs. undisclosed cancer target
  • 3 years from start of project to IND

Undisclosed Partner

  • HuCAL antibody vs. undisclosed cancer target
  • IND filing in June 2007

Partnered Pipeline Growing at 30% p.a.

Number of active, partnered HuCAL programs at the end of each year

MorphoSys's Proprietary Programs

MOR 103

Primary Indication: Rheumatoid arthritis

  • Medical Need:
  • Fewer than 25% of RA patients are adequately treated

Drug Candidate:

  • HuCAL antibody with very high affinity for undisclosed target
  • Potential in other inflammatory indications

Milestones:

  • Clinical material produced ;
  • H2 2007: CTA filing

MOR202

  • Primary Indication: Multiple myeloma
  • Medical Need:
  • Few available treatment options for MM, no curative therapies

Drug Candidate:

  • HuCAL antibodies vs. CD 38, a 45kDa glycoprotein
  • Compelling efficacy data in vitro and in vivo (SCID mouse)

Milestones:

2007: Profiling of lead and one back-up candidate

MOR202 is Superior to Velcade in a Multiple Myeloma SCID Mouse Model

MOR202 (5 mg/kg) Velcade (0.5 mg/kg) Negative control antibody

Business Segments

AbD Serotec: The Business

Synergies Between Therapeutic & Reagent Antibody Businesses

Partnerships At least 2 therapeutic partners have tested HuCAL as AbD customers before committing to large therapeutics-focused collaborations.Reagents Targets Alliances with research institutes such as The Burnham Instituteexchange access to HuCAL for rights to antibodies against newly discovered targets.

AbD Serotec: Gaining Scale

Financial Growth

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Profit & Loss Statement (Group) 9-Months 2007

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Condensed Balance Sheets (Group) 9-Months 2007

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With partners:

products)

  • 1-3 INDs
  • 50 therapeutic programs by year-end

Operating profit EUR 7 – 10 million

New / expanded partnerships

AbD Serotec

Revenue EUR 60 – 65 million (2/3 therapeutics: 1/3 research

  • 20% revenue growth
  • Expecting 10-15%
  • EBIT margin: 5-10%
  • Expecting up to 5%
  • New marketing alliance to drive uptake of HuCAL in research community

Goals 2007

Group

Thank You.

www.morphosys.com

HuCAL®, HuCAL GOLD®, CysDisplay®, RapMAT® and AutoCAL® are registered trademarks of MorphoSys AG

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