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MorphoSys AG Investor Presentation 2008

Sep 5, 2008

291_ip_2008-09-05_fe76b694-4af8-4b17-a234-d8829aa54f76.pdf

Investor Presentation

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Sal. Oppenheim – European Healthcare Investors Conference 2008

September 3, 2008

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 Annual Report.

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HuCAL: Leading Antibody Technology

HuCAL stands for Human Combinatorial Antibody Library

  • Antibodies are fully human
  • Modular gene construction enables systematic optimization of antibody lead candidates for each therapeutic application
  • Proprietary phage-based CysDisplay screening system
  • Proprietary AutoCAL system for high throughput

Two Business Segments

Therapeutic Antibody Programs With Leading Pharma & Biotech Companies

54 Active Partnered Therapeutic Programmes

Active Collaborations: Timelines

Novartis Deal: Financial Details

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Partnered Therapeutic Programs: Exclusivity by Target

  • Partner provides the target molecule; MorphoSys generates optimized lead antibody
  • Partners receive an exclusive license based on target, first-come, first served

Partnerships: Typical Terms per Program

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Partnered Business: Projected HuCAL Drugs on the Market

Projection of committed partnered programs:

Estimated number of marketed HuCAL drugs: > 17

Source: MorphoSys internal statistics & Tufts Centre for the Study of Drug Development

Roche's HuCAL Alzheimer Programme

Drug

  • R1450, a HuCAL IgG1 antibody targeting amyloid-β
  • Function
  • R1450…
    • binds Aβ at N-terminus and an internal sequence
    • sequesters Aβ peptide
    • depolymerises aggregated Aβ
    • crosses blood-brain barrier in transgenic mouse, decreasing levels of cerebral Aβ

Development

  • Phase 1 ongoing in Denmark, Netherlands, Sweden, UK & Israel
  • Single dose and dose escalation arms
  • Mild-to-moderate Alzheimer's patients
  • Randomized, double-blind
  • Both studies with up to 100 patients
  • Wyeth/Elan results encouraging in ApoE4-negative patients

Drug

MOR103, a fully human IgG1 HuCAL antibody that binds GM-CSF with very high affinity

Primary indication

Rheumatoid arthritis, potential in asthma, COPD…

Clinical Development

  • Phase I study ongoing in Holland
  • Approx. 50 healthy volunteers in a randomized, double-blind, placebo-controlled, single-ascending dose trial
  • Safety, tolerability & pharmacokinetics
  • Q4 2008: Publish pre-clinical data
  • Q1 2009: Report Phase I results

Strong IP Position

  • Exclusive license to US patent application covering treatment of inflammation with inhibitors of GM-CSF
  • Patent applications on the MOR103 antibody family

MOR202: Proprietary Cancer Programme

Drug

MOR202, a fully human IgG1 HuCAL antibody that binds CD38, a marker on multiple myeloma and some leukemia cell-lines

Primary indication

Multiple myeloma

Function

Induces cell-killing by ADCC, CDC & apoptosis

Development Timeline

  • Q1 2008: Development candidate selected
  • Q1 2008: Process development commenced
  • Q1 - Q4 2009: Toxicology & safety
  • Q1 2010: submit CTA
  • Q2 2010: Commence Phase I

Two Business Segments

AbD Serotec: The Business

AbD Serotec: Emerging Opportunities

Therapeutic Segment Synergies

  • Case Study: Genesis R&D Inc.
  • March 2006
  • Genesis orders custom HuCAL research antibodies against FGFR-5
  • October 2007
  • Genesis gets preliminary therapeutic license
  • MorphoSys gets access to scientific data plus option to co-develop

Diagnostics

  • Growing part of HuCAL business
  • HuCAL enables very precise solutions to diagnostics problems
  • July 2008
  • HuCAL antibodies marketed in kits from Phadia
  • Over 20 other diagnostics collaborations ongoing
  • Upside via royalties and/or supply agreements

Guidance 2008

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  • Revenues in the Therapeutic Antibodies segment include success-based payments of EUR 10 million
  • Spend on proprietary product & technology development of EUR 13 million, the second successive 100% annual increase

Key Financials

In EUR millions

Revenues

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H1 2008

33.3

H1 2007

28.6

Forthcoming Events

  • Visible news-flow from proprietary antibody pipeline Start MOR103 Phase I trial 5 Publish pre-clinical results Manufacture MOR202 clinical material Co-development deals Progress in partnered antibody pipeline 1-2 partner INDs Clinical data from ongoing Phase I programmes Partnering Extension of partnerships through pre-existing options 5 AbD New marketing & diagnostic relationships 5
  • Measurable financial improvement

Thank You.

www.morphosys.com

Dr. Simon Moroney

Chief Executive Officer

Phone +49 (0)89 / 899 27-311 Fax +49 (0)89 / 899 27-5311 Email [email protected]

Dr. Claudia Gutjahr-Löser

Head of Corp. Comm. & IR

Phone +49 (0)89 / 899 27-122 Fax +49 (0)89 / 899 27-5122 Email [email protected]

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