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MorphoSys AG Investor Presentation 2007

May 14, 2007

291_ip_2007-05-14_a5fa8269-73e4-4980-bad7-ec46fefeee4e.pdf

Investor Presentation

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Acumen BioFin Rodman & Renshaw4th Annual Global Healthcare Conference

May 14, 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 AG Company Presentation | May 2007 © MorphoSys AG Page 3

MorphoSys at a Glance

! Leading provider of human therapeutic antibodies based on proprietary HuCAL technology

  • "Broad pipeline of therapeutic antibodies
  • "Top 20 research antibody supplier

!Successful partnering-driven strategy

  • "Profitable
  • "Royalties on all therapeutic products
  • !~300 Employees in Germany, UK, US, F, Scandinavia

!Listings

  • "Germany: Frankfurt Stock Exchange (TecDAX)
  • "USA: ADR Level 1 Program

Strategy

Therapeutic Antibodies

Maximize number and valueof HuCAL-based therapeutic antibodies

  • !Partnerships
  • !Multiple programs in many partnerships
  • !Target exclusivity for premium license fees, milestones & royalties

Research Products

Establish technology as an industry standard in research market

  • ! Build sales channels and capabilities through acquisitions of catalogue companies
  • !"Feeder" of future diagnostics & therapeutic products

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

Engineering vs. Serendipity

Increasing target understanding drives demands on antibody!

Block function! Stop X binding to substrate A… Avoid certain amino acid motif!…and Y to B!

Corporate Structure Mirrors Strategy

Therapeutic Antibodies: A Rapidly Expanding Segment of the Pharma Industry

  • !Acquisitions prove importance of antibodies to big pharma
  • !Sales of therapeutic antibodies pass US\$ 15 billion

Therapeutic Antibody Partnerships

! Partner provides target, initiates program, brings disease-specific expertise

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  • !Programs exclusive on "per target" basis
  • ! Partnerships typically multi-year, often multi-target
  • ! Potential clinical milestones on average ~ € 10 million
  • !Royalties : mid-single digits

Partnered HuCAL Therapeutic Antibody Pipeline: Expanding & Maturing

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Partnered Pipeline Growing at 30% p.a.

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

Roche's Alzheimer Program

  • !Drug: A HuCAL antibody made & optimized at MorphoSys
  • !Phase I Trials

Trial 1

  • " Randomized, double-blind, multiple ascending dose study in patients
  • "Target sample size is <100 individuals

Trial II

  • "Randomized, double-blind, single dose study in patients
  • "Target sample size is <100 individuals

Conducted in Denmark, Netherlands, Sweden and the UK

!First results expected 2008 (MorphoSys estimate)

GPC Biotech's Cancer Program

  • ! Drug: 1D09C3, a HuCAL antibody made & optimized at MorphoSys
  • ! Phase I Trial
    • At three European sites, in patients
    • Preliminary clinical phase I data showed:
    • -Drug is well tolerated
    • -First hints of anti-tumor activity
  • ! GPC has communicated:
    • Final phase I results expected in mid 2007
    • Intend to move into Phase II testing thereafter
  • !Drug has orphan status in CLL, MM, and Hodgkin's lymphoma

MorphoSys AG Company Presentation | May 2007 © MorphoSys AG Page 14

MOR103: A HuCAL Antibody for Rheumatoid Arthritis (RA)

!Medical Need

  • " RA patients adequately treated: Under 25% "Non-responders to anti-TNFs: 30%
  • "Non-responders after 2 years on anti-TNF: 50%
  • "Long-term safety issues with anti-TNFs

!Drug Candidate

  • "HuCAL antibody vs. undisclosed target
  • "Very high affinity and expression: potential CoGS advantage
  • "Potential in other inflammatory indications

!Milestones

  • "H2 2006: Manufacturing agreement with Crucell/DSM #
  • "H2 2007: Planned filing for phase I clinical trial \$

MorphoSys AG Company Presentation | May 2007 © MorphoSys AG Page 15

MOR202: A HuCAL Antibody for Multiple Myeloma (MM)

!Medical Need

  • "MM accounts for 10-15% of hematological & 1% of all cancers
  • "Few available treatment options, no curative therapies
  • " New agents, Velcade and Revlimid, have efficacy (nonresponders) and safety issues

!Drug Candidate

  • "HuCAL antibodies vs. CD 38, a 45kDa glycoprotein
  • "Over-expressed on MM (95%) and some leukemia cell-lines
  • "Compelling efficacy data in vitro and in vivo (SCID mouse)
  • "Mechanism is ADCC plus effector cell independent

!Milestones

  • " End 2006: Lead candidate selected#
  • " 2007: Define therapeutic window and effective dose level, stability study \$

Corporate Structure Mirrors Strategy

AbD Serotec: The Business

AbD Serotec: Timeline

Financial Growth

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Profit & Loss Statement (Group) Q1 2007

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Condensed Balance Sheets (Group) Q1 2007

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Shareholder Structure

  • Institutional Shareholders
  • Novartis
  • AstraZeneca
  • Management & Supervisory Boards
  • Retail & Others
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Group

Goals 2007

  • ! Revenue EUR 60 – 65 million (2/3 therapeutics: 1/3 research products)
  • !Operating profit EUR 7 – 10 million

Therapeutic Segment

!MOR103 IND

!With partners:

  • !1-3 INDs
  • ! 50 therapeutic programs by year-end
  • ! New / expanded partnerships

AbD Serotec

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

Thank You.

www.morphosys.com

HuCAL® and HuCAL GOLD® are registered trademarks of MorphoSys AG, RapMATTM, CysDisplayTM and AutoCALTM are trademarks of MorphoSys AG

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