Morphosys reaches milestone in antibody deal with Novartis

Milestone

MorphoSys has received a milestone payment from its collaboration with Novartis. The patyment was triggered by the filing of an application for a Phase I trial of an unnamed antibody. This is the second antibody to enter clinical trials within MorphoSys’s alliance with Novartis.

Simon Moroney, CEO, said, “These two programmess in the clinic illustrate the progress we’ve made, but are only the tip of the iceberg in terms of the value that the Novartis alliance brings to MorphoSys.”

The deal between the two companies, sealed in December 2007, includes committed payments in excess of US$600 million over the lifetime of the agreement.

This is the sixth antibody based on Morphosys HuCAL technology platform to advance into clinical development. The company anticipates that a further two to four partnered programmes will enter clinical trials in 2009.