MorphoSys AG — M&A Activity 2001

Dec 20, 2001

News Details

Ad-hoc | 20 December 2001 07:24

MorphoSys AG english

MorphoSys and Schering Form Strategic Alliance Ad-hoc-announcement transmitted by DGAP. The issuer is solely responsible for the content of this announcement. ——————————————————————————– MorphoSys and Schering Form Strategic Alliance to Develop Therapeutic and Diagnostic Products Schering to Purchase 10% Equity Stake in MorphoSys MorphoSys AG (Neuer Markt: MOR) today announced that it had signed a major strategic collaboration with Schering AG, for the development of antibody therapeutics and in-vivo diagnostics. As part of the strategic alliance, Schering will purchase a 10% equity stake in MorphoSys. In addition to the upfront equity investment, MorphoSys will receive committed license fees and R&D funding over the three-year collaboration term. Schering and MorphoSys plan to combine their resources over the next three years to exclusively pursue a minimum of five therapeutic and several in-vivo diagnostics projects, which are intended to commence immediately. Furthermore, the two partners will jointly undertake research to identify additional potential therapeutic and diagnostics targets emerging from Schering’s genomics program. For the duration of the collaboration term, MorphoSys will work exclusively with Schering in the field of in-vivo diagnostics. Over the lifetime of the agreement, MorphoSys has the potential to receive in excess of Euro 200 million including milestone payments, should all the candidate antibodies in the agreement be successfully developed. In addition to these payments, Schering will pay royalties to MorphoSys for any therapeutic or diagnostic products emerging from the collaboration. Underscoring the strategic nature of the agreement, Schering will purchase 357,880 MorphoSys AG shares, or approximately 10% of MorphoSys share capital, which will arise from an authorized capital increase pursuant to Section 186 § 3, of the German Stock Corporation Act. end of ad-hoc-announcement (c)DGAP 20.12.2001 ——————————————————————————– WKN: 663200; ISIN: DE0006632003; Index: Nemax 50 Listed: Neuer Markt in Frankfurt; Freiverkehr in Berlin, Bremen, Düsseldorf, Hamburg, Hannover, München und Stuttgart 200724 Dez 01