MorphoSys extented Strategic Partnership with Schering

Martinsried/Germany MorphoSys announced the extension of its collaboration with Schering to develop innovative antibody therapeutics and in vivo diagnostics. The collaboration, originally signed in December 2001, is extended by at least two more years, until the end of 2006, with the option of a further extension period of one year. In return for granting Schering access to the HuCal Gold technology, MorphoSys receives annual license fees under the revised contract, funding for a team of scientists working at MorphoSys on Schering’s behalf, license fees in respect of active therapeutic and diagnostic antibody projects, and stands to receive milestones and royalties on products developed and brought to market. The two partners have, to date, identified three therapeutic antibody candidates that are being processed. Another program covers the use of an antibody in the field of in vivo diagnostics. The magnitude of the related financial payments to MorphoSys was not disclosed. The original objective of the collaboration was to develop therapeutic antibodies and in vivo diagnostics, particularly in the field of oncology – one of Schering’s core business areas. The two companies will continue to collaborate on a variety of different molecules.