MorphoSys grabs $126M for clinical trial work

Germany's MorphoSys AG has raised $126 million through a private placement to help fund its clinical development work. The money will be used, in part, to pay for a mid-stage study of MOR208, its anti-CD19 antibody for chronic lymphocytic leukemia as well as new studies of MOR202, an anti-CD38 antibody currently in a Phase I/IIa clinical trial in multiple myeloma. "We have made considerable progress in advancing our pipeline and have announced ground-breaking partnerships with both GlaxoSmithKline and Celgene," says CEO Simon Moroney. "The funds we have raised will allow us to further develop our wholly-owned program MOR208, to build on the great potential of MOR202 with our partner Celgene ($CELG) and to invest in other attractive opportunities." Release