MorphoSys's Partner Heptares Initiates Proprietary Therapeutic Antibody Program against a GPCR Target

MorphoSys AG / MorphoSys's Partner Heptares Initiates Proprietary Therapeutic Antibody Program against a GPCR Target . Processed and transmitted by NASDAQ OMX Corporate Solutions. The issuer is solely responsible for the content of this announcement.

Successful Discovery Alliance Combines Two Leading Technologies

MorphoSys AG (FSE: MOR; Prime Standard Segment, TecDAX; OTC: MPSYY) announced today that its partner Heptares Therapeutics, a wholly owned subsidiary of Sosei Group Corporation, has exercised an option to initiate a therapeutic antibody program arising from the alliance the companies entered into in February 2013. The program will leverage MorphoSys's Ylanthia® antibody library to generate novel antibody leads and addresses a GPCR target selected by Heptares, for which Heptares has engineered a StaR® antigen.

The development and commercialization of this program by Heptares is covered by the existing collaboration agreement between the two companies. MorphoSys will receive a licensing fee and R&D funding from Heptares and is eligible to receive milestone payments and royalties on the sales of any therapeutic antibodies resulting from the program. Further financial details were not disclosed.

Marlies Sproll, Chief Scientific Officer of MorphoSys AG commented: "Antibodies developed with our Ylanthia® platform are increasingly gaining a foothold in the GPCR target space. MorphoSys has already successfully applied its comprehensive capabilities to generate functional antibodies against GPCRs in several projects. We are now looking forward to seeing the progress of this first therapeutic antibody program driven by Heptares as part of our very productive discovery collaboration with them."

Malcolm Weir, CEO of Heptares, added: "The expertise at Heptares in GPCRs and MorphoSys's antibody discovery capabilities form a powerful combination to unlock GPCR-targeted antibody discovery. We are delighted with the progress that has been made in the alliance, and to be adding this first antibody development program to our pipeline. This achievement highlights the power and versatility of our StaR® technology in both small molecule and biologics discovery for expanding our own pipeline and in partnerships."