SOURCE: MorphoSys
|
March 16, 2006 02:12 ET
MorphoSys and Japanese Pharmaceutical Group Daiichi Sankyo Form Broad Alliance to Develop Novel Antibody Therapies
MUNICH, GERMANY -- (MARKET WIRE) -- March 16, 2006 -- MorphoSys AG (Frankfurt: MOR;
Prime Standard Segment, TecDAX) today announced that Sankyo
Company, Limited, a wholly owned subsidiary of Daiichi Sankyo
Company, Limited, and MorphoSys AG have entered into a license
agreement and therapeutic antibody collaboration for an initial
two-year term with the option of an extension of up to three
more years. Under the terms of the agreement, Daiichi Sankyo
commits to start one therapeutic antibody program with
MorphoSys and receives an option for further programs.
During the initial two-year term of the agreement, Daiichi
Sankyo will have access to the MorphoSys HuCAL GOLD® library at
its research site in Tokyo. Additionally, MorphoSys will apply
its proprietary HuCAL GOLD® technology to generate antibodies
against a target provided by Daiichi Sankyo. Subsequently,
Daiichi Sankyo will be responsible for pre-clinical and
clinical development, as well as the ensuing marketing of
resulting products. MorphoSys stands to receive an upfront
payment and research funding, plus licensing and milestone
payments, as well as royalties on end-product sales. If
extended after the initial two-year period, the contract
provides Daiichi Sankyo with access to additional MorphoSys
capabilities, such as target validation, antibody optimization
and pre-clinical development. Such an extension would trigger
an additional upfront payment and result in increased research
funding for MorphoSys. Further financial details were not
disclosed.
"We look forward to working closely with Daiichi Sankyo to
develop novel antibody drugs," commented Dr. Simon Moroney,
Chief Executive Officer of MorphoSys. "This new therapeutic
partnership with one of the leading pharmaceutical groups in
Japan once again shows the potential for innovative technology
such as our HuCAL GOLD® antibody library in this market."
HuCAL GOLD® is the latest and most powerful antibody library
developed by MorphoSys. The technology utilizes a unique
concept for the in vitro generation of highly specific and
fully human antibodies. It is ideally suited for a broad range
of purposes reaching from target validation to drug
development.
For further information please contact: Dr. Claudia Gutjahr-
Löser, Director Corporate Communications, Tel: +49 (0) 89 / 899
27-122, gutjahr-loeser@morphosys.com or Mario Brkulj, Manager
Public Relations, Tel: +49 (0) 89 / 899 27-454,
brkulj@morphosys.com
About DAIICHI SANKYO COMPANY, LIMITED:
DAIICHI SANKYO COMPANY, LIMITED was established on September
28, 2005 as the joint holding company of two major Japanese
pharmaceutical companies - Sankyo Company, Limited and Daiichi
Pharmaceutical Co., Ltd. DAIICHI SANKYO is a global
pharmaceutical innovator, continuously generating innovative
drugs and services and maximizing its corporate value. Sankyo
and Daiichi Pharmaceutical have a broad range of major drug
products on the Japanese market, including the antihypertensive
Benicar® (olmesartan medoxomil) and the synthetic antibacterial
agent Cravit® (levofloxacin). Both companies have used their
cumulative knowledge and expertise in the field of
cardiovascular disease as a foundation for developing an
abundant product lineup and R&D pipeline. For further details,
please refer to the company web site at
http://www.daiichisankyo.co.jp/eng.
MOR_PR_Daiichi_Sankyo
(http://hugin.info/130295/R/1039425/168878.pdf)
About MorphoSys:
MorphoSys develops and applies innovative technologies for the
production of synthetic antibodies, which accelerate drug
discovery and target characterization. Founded in 1992, the
Company's proprietary Human Combinatorial Antibody Library
(HuCAL®) technology is used by researchers worldwide for human
antibody generation. The Company currently has licensing
agreements and/or research collaborations with Bayer (Berkeley,
California/USA), Boehringer Ingelheim (Ingelheim, Germany),
Bristol-Myers Squibb (New Jersey/USA), Centocor Inc. (Malvern,
Pennsylvania/USA), Daiichi Sankyo & Co., Ltd. (Osaka/Japan),
GPC Biotech AG (Munich/Germany), Hoffmann-La Roche AG
(Basel/Switzerland), ImmunoGen Inc. (Cambridge,
Massachusetts/USA), Merck & Co., Inc. (Whitehouse Station, New
Jersey/USA), Novartis AG (Basel, Switzerland), Novoplant GmbH
(Gatersleben, Germany), Pfizer Inc. (Delaware/USA), ProChon
Biotech Ltd. (Rehovot/Israel), Schering AG (Berlin/Germany),
Shionogi & Co., Ltd. (Osaka/Japan), Xoma Ltd. (Berkeley,
California/USA) and others. Additionally, MorphoSys is active
in the antibody research market through its Antibodies by
Design business unit. Antibodies by Design was founded in 2003
for the purpose of exploiting the MorphoSys non-therapeutic
antibody markets. MorphoSys' activities in the research
antibody segment were significantly strengthened through the
acquisition of the U.K. and U.S.-based Biogenesis Group in
January 2005 and Serotec Group in 2006. For further information
please visit the corporate website at:
http://www.morphosys.com/.
Statements included in this press release which are not
historical in nature are intended to be, and are hereby
identified as, "forward-looking statements" for purposes of the
safe harbour provided by Section 21E of the Securities Exchange
Act of 1934, as amended by the Private Securities Litigation
Reform Act of 1995. Forward-looking statements may be
identified by words including "anticipates", "believes",
"intends", "estimates", "expects" and similar expressions. The
company cautions readers that forward-looking statements,
including without limitation those relating to the company's
future operations and business prospects, are subject to
certain risks and uncertainties that could cause actual results
to differ materially from those indicated in the forward-
looking statements. Factors that may affect future operations
and business prospects include, but are not limited to,
clinical and scientific results and developments concerning
corporate collaborations and the company's proprietary rights
and other factors described in the prospectus relating to the
company's recent public offering.