Bli medlem
Bli medlem

Du är här

2015-03-26

MorphoSys AG : MorphoSys and Celgene Mutually Agree to End MOR202 Collaboration

MorphoSys AG / MorphoSys AG : MorphoSys and Celgene Mutually Agree to End
MOR202 Collaboration. Processed and transmitted by NASDAQ OMX Corporate
Solutions. The issuer is solely responsible for the content of this
announcement.
MorphoSys Regains Rights to MOR202 Antibody Against CD38 and Updates its Financial Guidance for 2015Conference call on Friday, March 27, 2015, at 1:00pm CET (12:00pm GMT/8:00am
EST)

MorphoSys AG (FSE: MOR; Prime Standard Segment, TecDAX; OTC: MPSYY) announced
today that it has regained rights to MOR202 from Celgene Corporation. The
companies have mutually agreed to terminate their co-development and
co-promotion agreement for MOR202. Clinical development of MOR202, which
currently involves a MorphoSys-sponsored phase 1/2a trial in relapsed or
refractory multiple myeloma patients, will continue as planned. This trial
includes combination cohorts with lenalidomide and pomalidomide which will be
provided to MorphoSys by Celgene. Financial details were not disclosed.

"Regaining rights to MOR202 opens up new possibilities for MorphoSys",
commented Dr. Simon Moroney, CEO of MorphoSys. "MOR202 binds to CD38, a
clinically validated target in multiple myeloma, and we know there is a lot
of interest in the program. We thank Celgene for working with MorphoSys to
advance the clinical development of MOR202. This program is a valuable
component of our proprietary portfolio, and we are looking forward to
presenting clinical data in the near future."

"We are committed to continuing the development of MOR202 as there is a high
unmet medical need for new treatment options in multiple myeloma," added Dr.
Arndt Schottelius, Chief Development Officer of MorphoSys AG. "Based on
pre-clinical data, we see significant promise in combining MOR202 with
Celgene's lenalidomide and pomalidomide in clinical trials which will
commence soon."

MorphoSys aims to release first clinical data from the ongoing phase 1/2a
trial at a medical conference in 2015. Cohorts in which MOR202 is combined
with lenalidomide and with pomalidomide will be added to the trial during the
first half of 2015. CD38 is a promising target for the treatment of multiple
myeloma and potentially other hematological malignancies. An effective
antibody against this target could change future treatment regimens in
multiple myeloma and also become the basis for treatments in several other
forms of cancer.

2015 Guidance Update:

As a result of the termination of the co-development and co-promotion
agreement for MOR202, MorphoSys has updated its financial guidance. The
Company now expects revenues for the 2015 financial year in the amount of EUR
101 million to EUR 106 million (up from previously EUR 58 million to EUR 63
million) due to the full realization of deferred revenues from the original
agreement with Celgene and a one-time payment from Celgene for development
costs in 2015. Based on management's current planning, proprietary R&D
expenses are expected to increase to a range of EUR 56 million to EUR 63
million (previously EUR 48 million to EUR 58 million), including the
development costs for MOR202 for the remainder of the year. The Company now
expects earnings before interest and taxes (EBIT) of approximately EUR 9
million to EUR 16 million in 2015 (previously EUR -20 million to EUR -30
million).

MorphoSys will hold a conference call on Friday, March 27, 2015, to discuss
this announcement.

Dial-in number for the analyst conference call (in English) at 01:00 pm CET;
12:00 pm GMT; 08:00 am EST (listen-only):

Germany: +49 (0) 89 2444 32975

For UK residents: +44 (0) 20 3003 2666

For US residents: +1 202 204 1514

Please dial in 10 minutes before the beginning of the conference.

The replay and transcript will be made available athttp://www.morphosys.com.
About MorphoSys:

MorphoSys developed HuCAL, the most successful antibody library technology in
the pharmaceutical industry. By successfully applying this and other patented
technologies, MorphoSys has become a leader in the field of therapeutic
antibodies, one of the fastest-growing drug classes in human healthcare.

Together with its pharmaceutical partners, MorphoSys has built a
therapeuticpipelineof more than 90 human antibody drug candidates for the
treatment of cancer, rheumatoid arthritis, and Alzheimer's disease, to name
just a few. With its ongoing commitment to new antibody technology and drug
development, MorphoSys is focused on making the healthcare products of
tomorrow. MorphoSys is listed on the Frankfurt Stock Exchange under the
symbol MOR. For regular updates about MorphoSys,
visithttp://www.morphosys.com.

HuCAL®, HuCAL GOLD®, HuCAL PLATINUM®, CysDisplay®, RapMAT®,arYla
®, Ylanthia®and 100 billion high potentials®are registered trademarks of
MorphoSys AG.

Slonomics®is a registered trademark of Sloning BioTechnology GmbH, a
subsidiary 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.

For more information, please contact:

MorphoSys AG

Dr. Claudia Gutjahr-Löser

Head of Corporate Communications&IR

Mario Brkulj

Associate Director Corporate Communications&IR

Alexandra Goller

Manager Corporate Communications&IR

Jessica Rush

Manager Corporate Communications&IR

Tel: +49 (0) 89 / 899 27-404

investors@morphosys.com

Media Release (PDF)
http://hugin.info/130295/R/1906638/678861.pdf

---------------------------------------

This announcement is distributed by NASDAQ OMX Corporate Solutions on behalf of NASDAQ OMX Corporate Solutions clients.
The issuer of this announcement warrants that they are solely responsible for the content, accuracy and originality of the information contained therein.
Source: MorphoSys AG via Globenewswire

HUG#1906638

Författare Hugin

Tala om vad ni tycker

Tala om vad ni tycker

Ni är just nu inne på en betaversion av nya aktiespararna. Lämna gärna feedback på vad ni tycker i formuläret nedan.