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MorphoSys AG Investor Presentation 2008

Jun 5, 2008

291_ip_2008-06-05_97fb576f-7b26-4a78-a0bf-323a9961fa43.pdf

Investor Presentation

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Deutsche Bank German & Austrian Corporate Conference

June 5, 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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Very Favorable Risk/Return Profile

HuCAL: Leading Antibody Technology

  • 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

HuCAL GOLD & HuCAL PLATINUM

HuCAL GOLD

  • Introduced 2000
  • Library size over 12 billion
  • Fab format
  • Modular gene library
  • Frameworks & CDRs reflect human repertoire
  • Underpinned by strong patent portfolio

HuCAL PLATINUM

  • Next generation
  • Currently under construction
  • Same modular concept
  • Complete new sequence alignment using latest human genome IgG data
  • Shorter selection timelines via earlier access to IgG

Robust Intellectual Property Protected by Core Patent Families

HuCAL Library Design and Use (~2016 expiry)

  • 5 US Patents
  • 1 EU Patent (several EU states); allowance received for Divisional
  • 2 AU Patents
  • 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
  • Favorable prosecution for EU application
  • Pending applications: AU CA EU IL JP NO US

Technology Development (HuCAL PlatinumTM)

  • Several applications in priority year or international phase (PCT)
  • Co-exclusive access to various Dyax biologics patent families

Business Segments

Active Collaborations: Timelines

Landmark Strategic Alliance With Novartis

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Partnerships: Typical Terms per Program

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* Includes cancer, inflammatory, autoimmune, infectious, musculoskeletal & central nervous system diseases

Lead Proprietary Program: MOR103

MOR103: Fully human IgG1 HuCAL antibody vs. GM-CSF for the treatment of inflammatory diseases

Major opportunity: Rheumatoid Arthritis

  • Anti-TNF therapies Enbrel, Remicade, Humira are successful biologic products for treating RA
  • But…
  • RA patients adequately treated: Under 25%
  • Non-responders to anti-TNFs: 30%
  • Non-responders after 2 years on anti-TNF: 50%
  • All three product labels carry "black box" warnings of serious infections, including tuberculosis

MOR103 Drug Product

  • Antibody has pM affinity for GM-CSF: potential CoGS advantage
  • Produced in Per.C6 (Crucell/DSM): human cell-line

Strong IP Position

  • Exclusive license to US patent application covering GM-CSF as target
  • Patent applications on the MOR103 antibody family

GM-CSF as a Target for Rheumatoid Arthritis

Target

  • GM-CSF: Cytokine that stimulates growth, differentiation and activation of macrophages and granulocytes
  • Due to its diverse functions in the immune system, GM-CSF is a target for anti-inflammatory therapies

Validation

  • GM-CSF induces proliferation and activation of macrophages, increasing production of pro-inflammatory cytokines, chemokines and proteases
  • Anti-GM-CSF mAb is an effective treatment in an RA disease model in mice
  • Therapeutic GM-CSF led to flares of RA in patients
  • Number of macrophages correlates directly with level of joint destruction in human RA patients

MOR103: Development Status

Pre-Clinical Development

  • Positive efficacy in two different in vivo RA models
  • No adverse clinical signs in toxicity study

Clinical Development

  • Phase I study commenced April 14, 2008 in Holland
  • CTA approved in 6 weeks by Dutch authorities
  • Approx. 50 healthy volunteers in a randomized, double-blind, placebocontrolled, single-ascending dose trial
  • Safety, tolerability & pharmacokinetics
  • Development Timeline:

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

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

Development

Lead selection completed, manufacturing commenced

2008

2009 2010

Manufacturing Start Phase ICTA SubmissionToxicology & Safety

Roche's Alzheimer Program R1450

Mechanism

  • Target: Amyloid-β, N-terminus and internal epitope
  • HuCAL antibody binds soluble Aβ peptide and effects depolymerization of aggregated Aβ

Development

  • Antibody crosses blood-brain barrier in transgenic mouse model, decreases levels of cerebral Aβ
  • Phase 1 studies ongoing in Denmark, Netherlands, Sweden, UK & Israel
  • Two arms: single dose and dose escalation
  • In mild-to-moderate Alzheimer's patients
  • Randomized, double-blind
  • Both studies with up to 100 patients

First results expected in 2008 (MorphoSys estimate)

Other Partnered Programs in the Clinic

Novartis - BHQ880

  • HuCAL antibody vs. undisclosed cancer target
  • Indication: Tumor-induced osteolytic bone disease
  • 3 years from start of project to IND

Centocor

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

GPC Biotech

  • HuCAL antibody against MHC II (triggers programmed cell death in activated B-cells and certain tumor cell lines)
  • Initial, promising phase 1 data published in Dec-2006
  • GPC is currently seeking a partner for this program

Business Segments

AbD Serotec: The Business

Page 22 | Company Update | May 2008 © MorphoSys AG

AbD Serotec: Gaining Scale

Case Study: An AbD Synergy

Oct. 8, 2007: MorphoSys Enters Therapeutic Research Collaboration on Novel Target Molecule with Genesis Research

March 2006

Genesis Research becomes an AbD client, sourcing custom HuCAL antibodies against FGFR-5

October 2007

  • Genesis gets:
  • Preliminary therapeutic license
  • Cooperation from MorphoSys in filing IP around FGFR-5
  • MorphoSys gets:
  • Access to all scientific data generated by Genesis Research
  • Option to co-develop

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

Profit & Loss Statement (Group)

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ISIN: DE0006632003SE Code: MORBloomberg: MOR GR

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 programs Partnering Extension of partnerships through pre-existing options 5 AbD New marketing & diagnostic relationships 5

Transition to profitability

Thank You.

www.morphosys.com

Dave Lemus

Chief Financial Officer

Phone +49 (0)89 / 899 27-439 Fax +49 (0)89 / 899 27-5439 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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