MorphoSys Signs Long-Term Alliance with Pfizer on Sloning Technology Platform
MorphoSys AG announced the signing of a non-exclusive license and technology transfer agreement between its subsidiary Sloning BioTechnology GmbH and Pfizer. The agreement covers the installation, training and use of Sloning's technology platform Slonomics® for fabrication of highly-diverse gene and protein libraries at Pfizer's subsidiary Rinat Neuroscience Corp. in South San Francisco. The MorphoSys subsidiary will receive an upfront payment in 2010, and stands to receive annual license fees over the patent lifetime of the Slonomics technology platform. Further financial details of the agreement were not disclosed.
"This significant alliance around the Slonomics technology, only weeks after we closed the acquisition of Sloning, clearly illustrates the potential value of the platform," commented Dr. Simon Moroney, Chief Executive Officer of MorphoSys AG. "This alliance with Pfizer creates immediate value for our shareholders and is just the beginning of what we expect to be a considerable return-on-investment from the combined technology platforms of MorphoSys and Sloning in the years ahead."
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