MorphoSys Announces Three New Clinical Milestones
December 10, 2010 / 7:02 am, CET
Three Partners Bring HuCAL Antibodies into Clinical Trials: All Six Partnered Clinical Milestones Expected for 2010 Achieved
MorphoSys AG (FSE: MOR; Prime Standard Segment, TecDAX) announced today that three of its partners have filed applications for phase 1 clinical trials with HuCAL antibodies. In each case, the filing of the application triggers an undisclosed milestone payment to MorphoSys. The therapeutic antibodies are being developed in the therapeutic areas of cancer and inflammatory diseases. Today's announcement brings to six the number of HuCAL antibodies that have entered clinical development in 2010. Details on the individual programs will be published as the respective trials commence.
"This has been an outstanding year for progress in our pipeline," commented Dr. Marlies Sproll, Chief Scientific Officer of MorphoSys AG. "The number of partnered HuCAL antibody programs in the clinic has almost doubled - from seven at the end of last year to 13 now. With the three new starts announced today, seven different partners from the pharmaceutical and biotechnology industry are currently running clinical trials with our antibodies. Milestone payments from these programs are an important source of revenue for MorphoSys. Even more importantly, we are building substantial long-term value for the company as programs advance into and through clinical development."
With today's news, a total of six HuCAL-derived antibodies have advanced into human clinical trials in 2010: the three announced today together with two programs from the alliance with Novartis and one from Centocor Ortho Biotech. As a result, MorphoSys's clinical pipeline currently comprises eight partnered programs in Phase 1 and five in Phase 2 development as well as the Company's proprietary programs MOR103, which is in a Phase 1b/2a trial for rheumatoid arthritis, and MOR208, which is in a Phase 1 trial for cancer.
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 being 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, visit http://www.morphosys.com/
HuCAL®, HuCAL GOLD®, HuCAL PLATINUM®, CysDisplay® and RapMAT® are registered trademarks of MorphoSys.
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.
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Senior Manager Corporate Communications & IR
Tel: +49 (0) 89 / 899 27-454
Specialist Corporate Communications & IR
Tel: +49 (0) 89 / 899 27-332