MorphoSys AG — M&A Activity 2002

May 16, 2002

News Details

Ad-hoc | 16 May 2002 07:30

MorphoSys AG english

MorphoSys Acquires Anti-Cancer Antibodies From ProChon Ad-hoc-announcement transmitted by DGAP. The issuer is solely responsible for the content of this announcement. ——————————————————————————– MorphoSys Acquires Anti-Cancer Antibodies From ProChon ProChon expands existing collaboration with MorphoSys MorphoSys AG (Neuer Markt: MOR) and ProChon Biotech Ltd., Israel, today announced the signing of an expanded antibody development agreement, under the terms of which MorphoSys acquires the rights to a portfolio of anti-cancer antibodies in development at ProChon. The agreement gives MorphoSys the exclusive right to develop and commercialize the antibodies for therapeutic applications in the field of oncology. The two companies have also agreed to expand an existing collaboration to work on related antibodies. No financial details were disclosed. The antibodies that are the subject of today’s announcement are directed against a human growth factor receptor, FGFR 3 (fibroblast growth factor receptor 3), and were generated by MorphoSys using their proprietary HuCAL technology within the existing agreement between the two companies. FGFR 3, a major development target at ProChon, is a member of a family of growth factor receptors that is implicated in skeletal disorders such as Achondroplasia (dwarfism) as well as some forms of cancer. The antibodies block the function of constitutively activated receptors that have been implicated in various forms of cancer. Today’s agreement contains several provisions that expand the existing relationship. First, ProChon retains rights to develop the antibodies against FGFR 3 in all non-cancer indications. Second, the two companies will collaborate over a three year period to develop new HuCAL antibodies against targets related to FGFR 3. end of ad-hoc-announcement (c)DGAP 16.05.2002 ——————————————————————————– WKN: 663200; ISIN: DE0006632003; Index: Nemax 50 Listed: Neuer Markt in Frankfurt; Freiverkehr in Berlin, Bremen, Düsseldorf, Hamburg, Hannover, München und Stuttgart 160730 Mai 02