MorphoSys Announces Clinical Milestone
MARTINSRIED, GERMANY and MUNICH, GERMANY, Jun 22, 2010 (MARKETWIRE via COMTEX) -- MorphoSys AG / MorphoSys Announces Clinical Milestone processed and transmitted by Hugin AS. The issuer is solely responsible for the content of this announcement.
First of up to Six Expected Clinical Phase 1 Milestones During 2010
MorphoSys AG /quotes/comstock/11e!fmor (DE:MOR 15.11, +0.23, +1.51%) announced today that it will receive a clinical milestone payment from Centocor Ortho Biotech Inc. (formerly known as: Centocor, Inc.) in connection with the initiation of a phase 1 clinical trial of a HuCAL-derived antibody in the therapeutic area of inflammatory and autoimmune diseases. The target against which the antibody is directed is undisclosed.
As part of the Centocor Ortho Biotech Inc. collaboration in 2007, a HuCAL antibody became the first from MorphoSys to be developed in two different therapeutic areas - oncology and immunology and in 2009, a different HuCAL antibody advanced in the therapeutic area of inflammation into a phase 1 trial. Today's announcement marks the start of a fourth clinical trial that will be running HuCAL antibodies. Further pre-clinical programs are ongoing.
"Our clinical pipeline is progressing very well, and we expect significant progress in this regard during the course of 2010 with up to six new partnered programs advancing into the clinic," commented Dr. Marlies Sproll, Chief Scientific Officer of MorphoSys AG. "We are delighted to see another antibody program advance into phase 1 clinical trials."
MorphoSys projects that in 2010 between four and six partnered programs could enter clinical trials. Today's news represents the first HuCAL-derived antibody to achieve this stage during the course of the year. By the end of this year, up to 14 proprietary and partnered antibody programs are expected to be in clinical trials including at least four programs in phase 2 clinical trials.
MorphoSys is an independent biotechnology company that develops novel antibodies for therapeutic, diagnostic and research applications. The Company's HuCAL technology is one of the most powerful methods available for generating fully human antibodies. By successfully applying this and other proprietary technologies, MorphoSys has become a leader in the field of therapeutic antibodies, one of the fastest-growing drug classes in human health-care. Through its alliances with some of the world's leading pharmaceutical companies, MorphoSys has created a pipeline of more than 60 drug candidates. The Company is expanding its drug pipeline by adding new partnered programs, and by building a portfolio of fully-owned therapeutic antibodies. For its proprietary portfolio, the Company is focused on the areas of oncology and inflammation. Its most advanced program MOR103, a first-in-class, fully human antibody against GM- CSF, is currently tested in a Phase Ib/IIa trial in rheumatoid arthritis patients. Via its business unit AbD Serotec, MorphoSys is expanding the reach of its technologies in the diagnostics and research markets. MorphoSys is headquartered in Munich, Germany and listed on the Frankfurt Stock Exchange under the symbol "MOR". For further information, visithttp://www.morphosys.com/
HuCAL(R), HuCAL GOLD(R), HuCAL PLATINUM(R), CysDisplay(R) and RapMAT(R) are registered trademarks 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.