MorphoSys, Celgene End Antibody Pact

MorphoSys AG, a company specializing in therapeutic antibody development, has regained rights to MOR202, a fully humanized
fully human HuCAL-antibody directed against CD38, a therapeutic target for the treatment of multiple myeloma (MM) and certain leukemias, 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 I/IIa trial in relapsed or refractory multiple myeloma patients, will continue as planned. HuCAL is MorhpSys’ antibody library technology.

MorphoSys aims to release first clinical data from the ongoing phase I/IIa 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.

As a result of the termination of the co-development and co-promotion agreement for MOR202, MorphoSys 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.

Source: MorphoSys

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