MorphoSys Signs Global License Agreement with GlaxoSmithKline for Anti-Inflammatory Program MOR103

MorphoSys Signs Global License Agreement with GlaxoSmithKline for Anti-Inflammatory Program MOR103 
MARTINSRIED, GERMANY and MUNCHEN, GERMANY -- (Marketwired) --
06/03/13 --  MorphoSys AG / MorphoSys Signs Global License Agreement
with GlaxoSmithKline for Anti-Inflammatory Program MOR103 
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announcement. 
MorphoSys to Receive Committed and Success-based Payments of up to
EUR 445 Million and Double-digit Royalties on Net Sales 
Conference
call today at 5:00pm CET (4:00pm GMT/11:00am EST 
MorphoSys AG
(FSE: MOR; Prime Standard Segment, TecDAX) announced today that
they
have entered into a global agreement with GlaxoSmithKline (GSK) to
develop
and commercialize MOR103. MOR103 is MorphoSys's proprietary
HuCAL-derived antibody against GM-CSF, which has concluded Phase 1/2
development in mild to
moderate rheumatoid arthritis. 
Under the terms of the agreement, GSK will assume responsibility for
all subsequent development and commercialization of MOR103. As part of
the agreement, MorphoSys receives an immediate upfront payment of EUR
22.5 million.
On achievement of certain developmental, regulatory,
commercial and sales-based milestones, MorphoSys would be eligible to
receive additional payments from GSK of up to EUR 423 million, in
addition to tiered, double-digit royalties on net
sales. 
"This transaction is a major milestone for MorphoSys. Our goal was to
secure an agreement with a company having the commitment and
expertise to turn MOR103 into
a successful drug, and in GSK we have
clearly found such a partner. We hope this
alliance will result in a
significant return on investment for the MOR103 program and to become
a major value driver for MorphoSys," commented Dr. Simon
Moroney,
Chief Executive Officer of MorphoSys AG. 
"Today's announcement clearly illustrates our ability to take
proprietary programs from target to clinical proof of concept and an
attractive partnership.
The pre-clinical and clinical data we have
generated show that MOR103 has the
potential to offer new treatment
options for rheumatoid arthritis. We also believe that this molecule
has potential in other indications as well. I'm delighted that with
this agreement, MOR103 will progress to the next stage in
its
development," commented Dr. Arndt Schottelius, Chief Development
Officer of MorphoSys AG. 
MOR103 has concluded a Phase 1 study in healthy volunteers and a
Phase 1/2 clinical trial in mild to moderate rheumatoid arthritis
patients. Additionally,
MOR103 is currently being evaluated in a Phase
1b dose-escalation safety study
in multiple sclerosis. MOR103 is an
investigational medicine that is not approved for use anywhere in the
world. 
As a result of the transaction, MorphoSys increased its financial
guidance for
2013. MorphoSys expects revenues of approximately EUR 68
million to EUR 72 million (previously EUR 48 million to EUR 52
million) and an EBIT of EUR -2 million to EUR +2 million (previously
EUR -18 million to EUR -22 million). The
original guidance did not
include a successful out-licensing of any of the Company's
proprietary development programs. Around EUR 20 million of the
upfront
payment of EUR 22.5 million shall be booked with signature.
The remaining amount
shall be distributed over 2013 and 2014
according to the development plan for
the ongoing phase 1b MS trial
of MOR103. 
MorphoSys will hold a public conference call today, 3 June 2013 at
05:00 p.m.
CEST (11:00 a.m. EDT, 04:00 p.m. BST) to present more
information on the
agreement. 


 
Dial-in number for the Conference Call (listen-only):
Germany:                            +49 89 2444 32975
For U.K. residents:                 +44 20 3003 2666
For U.S. residents:                 +1 202 204 1514

 
Please dial in 10 minutes before the beginning of the conference. 
A webcast replay and transcript will be made available at 
http://www.morphosys.com/conference-calls. 
About MorphoSys: 
MorphoSys developed HuCAL, the most successful antibody library
technology in
the pharmaceutical industry. By successfully applying
this and other patented
technologies, MorphoSys has become a leader
in the field of therapeutic antibodies, one of the fastest-growing
drug classes in human healthcare. 
Together with its pharmaceutical partners, MorphoSys has built a
therapeutic
pipeline of more than 70 human antibody drug candidates
for the treatment of
cancer, rheumatoid arthritis, and Alzheimer's
disease, to name just a few. With
its ongoing commitment to new
antibody technology and drug development, MorphoSys is focused on
making the healthcare products of tomorrow. MorphoSys is listed on
the Frankfurt Stock Exchange under the symbol MOR. For regular
updates
about MorphoSys, visit http://www.morphosys.com 
HuCAL(R), HuCAL GOLD(R), HuCAL PLATINUM(R), CysDisplay(R), RapMAT(R),
arYla(R) and Ylanthia(R) and 100 billion high potentials(R) are
registered trademarks of MorphoSys AG. 
Slonomics(R) is a registered trademark of Sloning BioTechnology GmbH,
a subsidiary of MorphoSys AG. 
This communication contains certain
forward-looking statements concerning the
MorphoSys group of
companies. The forward-looking statements contained herein
represent
the judgment of MorphoSys as of the date of this release and
involve
risks and uncertainties. Should actual conditions differ from
the Company's assumptions, actual results and actions may differ from
those anticipated. MorphoSys does not intend to update any of these
forward-looking statements as
far as the wording of the relevant
press release is concerned. 
Media Release (PDF): http://hugin.info/130295/R/1706626/564976.pdf 
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(i) the releases contained herein are protected by copyright and    
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(ii) they are solely responsible for the content, accuracy and     
originality of the information contained therein. 
Source: MorphoSys AG via Thomson Reuters ONE 
[HUG#1706626] 
For more information, please contact: 
MorphoSys AG 
Dr. Claudia Gutjahr-Loser
Head of Corporate Communications & IR
Tel: +49 (0) 89 / 899 27-122 
Mario Brkulj
Associate Director Corporate Communications & IR
Tel: +49 (0) 89 / 899 27-454 
Alexandra Goller
Specialist Corporate Communications & IR
Tel: +49 (0) 89 / 899 27-332
investors@morphosys.com
 
 
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