EQS-News

MorphoSys Out Licenses Pre-Clinical Oncology Program

EQS-News: MorphoSys AG / Key word(s): Miscellaneous MorphoSys Out Licenses Pre-Clinical Oncology Program 06.12.2022 / 22:01 CET/CEST The issuer is solely responsible for the content of this announcement. Media Release

Planegg/Munich, Germany, December 6, 2022

MorphoSys Out Licenses Pre-Clinical Oncology Program

 Novartis obtains exclusive worldwide rights for pre-clinical inhibitors of a novel cancer target

MorphoSys receives an upfront payment of $23 million, potential milestone payments, plus mid-single- to low-double-digit royalties on net sales
 

MorphoSys AG (FSE: MOR; NASDAQ: MOR) announced today that its fully owned subsidiary Constellation Pharmaceuticals, Inc. has entered into a global licensing agreement with Novartis to research, develop and commercialize its pre-clinical inhibitors of a novel cancer target. This program was added to MorphoSys’ research portfolio following its acquisition of Constellation Pharmaceuticals, Inc.

“We are pleased that our trusted and long-standing collaborator Novartis will continue to drive this program forward. Novartis has strong medicinal chemistry, oncology development and translational research capabilities to realize the full potential of this novel cancer target,” said Jean-Paul Kress, M.D., Chief Executive Officer of MorphoSys. “At MorphoSys, we will continue to focus our resources on driving our late- and mid-stage oncology pipeline forward, which has the potential to enhance the standard and quality of care in difficult-to-treat and debilitating types of blood cancers.”

Under the terms of the agreement, Novartis will assume full responsibility for all subsequent research, development and commercialization activities for the program. As part of the agreement, MorphoSys receives an immediate upfront payment of $23 million. On achievement of development, regulatory and commercial milestones, MorphoSys will be eligible to receive milestone payments from Novartis in addition to mid-single- to low-double-digit royalties on program net sales.