MorphoSys to receive Novartis milestone payout

MorphoSys

German biotech company MorphoSys has announced that it is to receive a milestone payment from Novartis in connection with a phase one clinical trial of a HuCAL-derived, fully human antibody in the therapeutic area of ophthalmology.

The antibody is set to be the third HuCAL-derived antibody to move into human clinical trials in 2010, following the advancement of programmes from alliances with Novartis and Centocor Ortho Biotech earlier this year.

While finanical details are not available, MorphoSys said that with the payment three new clinical starts are secured in 2010 with the company on track to meet its expectations for the full year of up to six clinical milestones with various partners. The company projects that in 2010 between four and six partnered programmes could enter clinical trials.

"Promising new programme"

In a statement, Marlies Sproll, chief scientific officer of MorphoSys said, ‘This promising new programme is our first drug candidate in ophthalmology to enter the clinic, and underscores the range of indications we cover.'

‘With three new clinical starts secured in 2010 we are on track to meet our expectations for the full year of up to six clinical milestones with various partners. Overall, the progress of HuCAL drug candidates into human clinical trials is accelerating.'

With the recently announced in-licensing of an Fc-engineered antibody against CD19 from Xencor Inc, MorphoSys now expects up to 15 proprietary and partnered antibody programmes to be in clinical trials by year-end, at least four of which should be in phase 2.

As a result of the news, shares in the company have risen four percent to the top of Frankfurt's technology index. Shares in Morphosys have gained about 12 percent in value since the beginning of July, boosted by strong quarterly results and a recent deal with U.S. biopharmaceutical company Xencor.

MorphoSys is an independent biotechnology company that develops novel antibodies for therapeutic, diagnostic and research applications. The company's HuCAL technology is one of the most powerful methods available for generating fully human antibodies. By successfully applying this and other proprietary technologies, MorphoSys has become a leader in the field of therapeutic antibodies, one of the fastest-growing drug classes in human health-care.

Relevant articles:

Sanofi-Aventis to takeover Genzyme? | Teva profits up 53 percent | Actelion to buy Trophos

Like this article? Get the RSS feed: