MorphoSys AG — M&A Activity 2003

Jan 9, 2003

News Details

Corporate | 9 January 2003 07:30

MorphoSys AG english

Bayer Exercises Option on MorphoSys Therapeutic Antibody Program Corporate-news announcement sent by DGAP. The sender is solely responsible for the contents of this announcement. ——————————————————————————– Bayer Exercises Option on MorphoSys Therapeutic Antibody Program MorphoSys AG (Neuer Markt: MOR) announced today that Bayer AG has purchased a license for the exclusive right to develop a HuCAL antibody. The acquired license is for a HuCAL antibody against an undisclosed, solid tumor cancer target molecule. The antibody was generated and characterized by Bayer Biotechnology (Berkeley, CA, USA) using the MorphoSys HuCAL antibody library, and has demonstrated efficacy in several in vitro and in vivo assays. Bayer demonstrated significant anti tumor efficacy in several animal tumor models. Bayer intends to further characterize the most promising antibody in additional preclinical studies and thereafter develop the antibody in clinical trials in major solid tumor indications. MorphoSys may receive further development- related milestone payments and will receive royalties on any products that come to the market. MorphoSys and Bayer signed a wide-ranging antibody collaboration in December 1999. In July 2001 the collaboration was extended for four additional years, focusing on the generation of human antibodies for therapeutic, diagnostic and genomics applications. Under the agreement MorphoSys receives annual license payments, and may receive development related milestones and royalties on end products. Bayer is focusing on the development of therapeutic antibodies derived from HuCAL and currently has several on-going therapeutic antibody programs in various indications. The exclusive license announced today represents Bayer’s second acquisition of an exclusive license from MorphoSys. Bayer retains further options to acquire exclusive licenses for therapeutic antibody programs. “This is further evidence of our high success rate”, stated Dr. Thomas von Rüden, Chief Scientific Officer at MorphoSys AG. “The results of this partnership prove the robustness and the power of our HuCAL technology for the development of therapeutic antibodies, both in our hands and in the hands of our partners.” end of message, (c)DGAP 09.01.2003 ——————————————————————————– WKN: 663200; ISIN: DE0006632003; Index: Nemax 50 Listed: Neuer Markt in Frankfurt; Freiverkehr in Berlin, Bremen, Düsseldorf, Hamburg, Hannover, München und Stuttgart 090730 Jän 03