MorphoSys Announces Expansion of Collaboration with Novartis
MorphoSys AG announced an expansion of its existing therapeutic antibody collaboration with Novartis. The original collaboration agreement provided for a three-year term with an option for Novartis to extend. The collaboration will now go through May 2011. In light of the expanded collaboration, MorphoSys is currently reviewing the status of its financial guidance 2006 and will provide an update latest by July 28, 2006, at the presentation of its Q2 results.
Within the framework of the extended agreement, Novartis commits to an increase in the number of new therapeutic antibody projects annually - resulting in increased levels of Novartis's funding for research and development at MorphoSys. In addition, Novartis will have the option to receive access to the MorphoSys HuCAL GOLD® library at an additional research site and will have access to a certain HuCAL® affinity optimization technology at the HuCAL® library installation sites at Novartis for optimization of non-therapeutic antibodies. Furthermore, the agreement also provides for increased annual license fees, with commercial license fees, research and developmental milestones, and royalties on marketed antibody products remaining unchanged. The non-exclusive option on internalization of the entire MorphoSys HuCAL® technology platform, offered to Novartis under the terms of the initial collaboration in 2004, will remain in place. Triggering of this option would result in an additional payment by Novartis to MorphoSys. Further financial details were not disclosed.
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Topic world Antibodies
Antibodies are specialized molecules of our immune system that can specifically recognize and neutralize pathogens or foreign substances. Antibody research in biotech and pharma has recognized this natural defense potential and is working intensively to make it therapeutically useful. From monoclonal antibodies used against cancer or autoimmune diseases to antibody-drug conjugates that specifically transport drugs to disease cells - the possibilities are enormous
