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MorphoSys AG — Investor Presentation 2010
May 19, 2010
291_ip_2010-05-19_521d81c1-bda8-40a6-b4bd-e6b490e01b85.pdf
Investor Presentation
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Bio€q y uit Europe 2010
Zurich – May 19, 2010
This presentation includes forward forward-looking statements. looking
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 conditions, reforms, the availability of financing.
These and other risks and uncertainties are detailed in the Company's Annual Report.
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Recent Developments
| / 0 1 1 0 : |
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C S C f- f- C F i t H A L b d A t i b d h l i i l P t r s u a s e n o y o w s n c a r o o o o n c e p - |
HuCALPLATINUM: Technology p Leadership
Modular gene design & construction
- HuCAL (Human Combinatorial Antibody Library)
- Antibodies are fully human are
- HuCAL PLATINUM launched in December 2008
- Unique, built-in optimization capabilities
- Robust intellectual property position
Optimization of antibodies delivers superior drug candidates
Current Product Pipeline
| N a m e |
P t a r n e r |
T t a r g e |
I d i i t n c a o n |
D i s c o v e r y |
P l i i r e c n c |
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M O R / N O V |
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1 P D r e- e v. |
P r o g g r a m |
* Includes cancer, inflammatory, autoimmune, infectious, musculoskeletal & central nervous system diseases
n.d. – not disclosed
Partnership yp p g s: Typical Terms per Program
| T T i i l l i i m e n e |
M 2 0 0 4 I i t i l d l, i l d i i t t k " a y : n a e a n c u n g e q u y s a e N N b b 2 2 0 0 0 0 7 7 M j j i i " o v e m e r : a o r e x p a n s o n N b 2 0 1 E d b j 2 i i 7 t t t t " o e m e r n s e c o e a r e e n s o n o p o n v : u -y x , |
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| i N t o a r s p a s v y … |
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| i N t t o a r s g e s v … |
P f d H C A L f i 1 0 0 d i t " r e e r r e a c c e s s o o r s e n o e r s c o e r u u v v y p r o g r a m s |
| C d l t o e v e o p m e n - i t o p o n |
S S h h d d & & f f i i ( 2 0 % 0 0 % % ) ) l l d d d d l l d d t t t t 5 5 t t " a r e c o s s p r o s o n s e e c e c o e e o p e v – p r o g r a m s |
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M h 2 0 0 6 I i i l l l i t " a r c n a a a n c e : O b 2 0 0 9 E i f i f i d i t t t " c o e r e c o n o n e c o s s e a s e : x u u d l e a |
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| F o c u s |
D i d d d l l f h i t t t t " s c o e r a n e e e e o o p p m m e e n n o e r a p e c v y v v u i b d i i i i d t t t t t t a n o e s a g a n s c e r a n a r g e s a s s o c a e i h h i l- i d i f i t t t o s p a a c q r e n e c o n s w u |
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| i i i D h a c S k a n o y P a s y … |
f f T t- i i l i " a r g e s p e c c c e n s e e e s & f f R D d i d d i " u n n g o r r u g s c o v e r y R & D f d i f d l f i f i t t " n n g o r e e o p m e n o n e c o s u v u d i l d h l i t t s e a s e r e a e e c n o o g e s & M i l t l t i l t i d " e s o n e s r o y y a e s o n r e s u n g g r u g g s |
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Up da te Ma 2 0 1 0 y y – |
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P h 2 a s e |
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0 0 2 2 / / 2 2 0 0 0 0 9 9 S S t t : d i h Z t t s u y w |
t t h h 1 1 / / a r p a s e i t o m e a n m u |
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| d. n. |
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| d d. n n. |
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o n |
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| B A Y 9- 4 6 2 0 7 |
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C ( ) C A I X M N A D - O l n c o o g y |
/ S 1 0 2 0 0 9 t : 0 4 / 2 0 1 0 P r : |
t h 1 a r p a s e l i i l d t e- c n c a a |
C i t h A D w t A A C R a a |
- Potential for first P-o-C data from partnered HuCAL program
- 4 - 6 INDs with various partners
- Roche plans to move into Ph 2 in 2010 with Gantenerumab (AD); potentially others
Partnered Business: Projected HuCAL Drugs on the Market
Source: MorphoSys internal statistics & Tufts Centre for the Study of Drug Development
MOR103Proprietary Inflammation Program
| M O R 1 0 3 i f l l h H C A L i b d i t t t " s a u y u m a n u a n o y a r g e n g G M C S F - |
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da i l 2 0 1 0 te |
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Pa 1 3 |
| Sy rp s – |
Up Ap mp an y r – |
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g e |
MOR103 – Ph 1b/2a (MSC-1001) in Rheumatoid Arthritis – Clinical Trial Update
- Trial approved in Germany, Bulgaria, The Netherlands
- Study in 135 RA patients, randomized, double-blind, placebo-controlled, multiple ascending dose
- Geographic mix provides access to full spectrum from biologics-pretreated to biologics-naïve RA patients
- Primary outcome measures: Adverse event rate and safety profile
- Secondary outcome measures: DAS28, ACR score set measures and EULAR28 response criteria, cytokines, synovitis, bone edema, pharmacokinetics, immunogenicity and patient reported outcomes up to 16 weeks
- Stable regimen of concomitant RA therapy (including anti-TNFs)
| 2 0 0 8 |
2 0 0 9 |
2 0 1 0 |
2 0 1 1 |
2 0 1 2 |
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| F F i i l l P h b b / / D D 1 1 2 2 t t n a a a a |
MOR202: The Opp y ortunity
| T t a r g e |
C 3 8 f f f D d t h i ; o u n o n e s u r a c e o m a n y m m u n e l l c e s P i i d i t i M l t i l l r m a r y n c a o n : u p e m y e o m a ƒ % f H i l d i 9 5 l t i l l e a v y o v e r- e x p r e s s e n o m u p e m y e o m a ƒ d l k i l l l i a n s o m e e u e m a c e n e s A t i b d i d l l- k i l l i n o y n u c e s c e n g ƒ |
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| M k t a r e |
M l i l l t p e m e o m a u y : % f 1 0 h t l i l o e m a o o g c a c a n c e r s ƒ % f 1 l l ƒ o a c a n c e r s % f 2 d t h ƒ o c a n c e r e a s N t i t h i t h k t ƒ o c u r a v e e r a p e s o n e m a r e M d i i l 2 4 3 0 t h l l t i t ƒ e a n s u r v v a m o n s a p a e n s - , t l l l e v e n u a y r e a p s e |
T i t a r g e n g a j m a o r n m e u i d l m e c a n e e |
| O h t e r I d i i t n c a o n s |
L k i b i l d t e u e m a e n g e v a u a e |
major unmet medical need
MOR202 –Development Plan
- Manufacturing of clinical grade material completed according to plan
- Clinical material is produced using PER.C6® p g cell-line (Crucell/DSM)
- Prepare for Ph 1/2 in multiple myeloma in 2011
- File CTA in Q4 2010
- R ti l f t d d ti li f MOR202 Rationale for extended timeline of
- Sharpened competitive profile
- Longer chronic toxicity study to enable long-term clinical development
- C titi d t Competitive advantage: Tox speci il bl ( ies available (cross-reacti it t tivity to non-h i t) b t human primate), robust development plan
| 2 0 0 9 |
2 0 1 0 |
2 0 1 1 |
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| M f i t a n u a c u r n g |
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| S T i i d t t o x c y u y |
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| C T A P i t r e p a r a o n |
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| C i i T A F l n g |
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| S S f f P h / / 1 1 2 2 t t t t a r o a |
Clinical Pipeline
Number of Partnered and Proprietary Programs at Year-end
Clinical Antibody Pipeline is a Key Value Driver
Opp j ortunities in Two Major Markets
- Serving research market via catalog comprising over 13,000 products pg ,p industry
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Building on reputation for quality
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Drive uptake of HuCAL in diagnostic dust y
- Exploit opportunities to create truly differentiated products
AbD Serotec –Future Prospects
- Continue executing the strategy
- Intensify penetration of Dx market 25 y p
- Keep investing in organization
- Expand geographically
- Strengthen direct sales force in Europe 18.2
- Tighten distributor network
- Mid- to long-term plan includes build-up of Asian sales team
- Financials: Above market top-line growth, continuously improve margins
| I i l l i E U R n m o n |
E * 2 0 1 0 |
A 2 0 0 9 |
|---|---|---|
| T l G R t o a r o u p e v e n u e s |
8 9 9 3 – |
8 1 0 |
| A b D S t e r o e c |
2 1 2 2 – |
1 9 4. |
| G O i P f i t t r o p p e r a n g r o u |
5 9 – |
1 1 4 |
| A b D S O i P f i M i t t t e r o e c p e r a n g r o a r g n |
% 8 % 5 – |
% 5 |
| * Es t im te d b a nu m e rs |
2010
Increase of total proprietary R&D investment to € 26 – 29 million (2009: € 19.3 million)
2011 – 2012
- Aiming for 10% - 20% annual revenue growth
- Maintain profitability while strengthening pipeline pipeline
Shareholder Structure and Key Financials
Key Financials
| M & t a n a g e m e n |
Q 1 2 0 1 0 |
Q 1 2 0 0 9 |
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|---|---|---|---|
| % 7 S i B d u p e r v s o r y o a r % 5 % 2 1 0 % 7 % |
R e v e n u e s |
2 0 6 |
1 9 1 |
| C t f G d S l d o s o o o s o |
1. 7 |
1. 7 |
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| R & D E x p e n s e s |
9 3 |
8 5 |
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| S G & A E x p e n s e s , |
4 9 |
4 8 |
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| i i T T l l O O E E t t o a p e r a n g p e n s e s x |
1 1 5 9 |
1 1 4 4 9 9 |
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| 7 % |
O i P f i t t p e r a n g r o |
4 7 |
4 2 |
| % 4 4 % 7 % |
f i N P t t e r o |
3 2 |
3 5 |
Cash, Cash Equivalents and Available-for-sale Financial Assets as of March 31, 2010:
€ 147 3 illi 147.3 million
Goals 2010
Future Value Creation
Thank You.
www.morphosys.com
Dr. Claudia Gutjahr-Löser
Head of Corporate Communications & IR
Phone +49 ( ) 0 89 / 899 27-122 Fax +49 (0)89 / 899 27-5122 Email [email protected]