MorphoSys AG And Schering-Plough Corporation Sign R&D Agreement

MorphoSys AG (Frankfurt: MOR) (Prime Standard Segment, TecDAX) announced today the signing of an initial two year license agreement with Schering-Plough Corporation for the use of MorphoSys's HuCAL GOLD® technology in the research and development of human therapeutic antibodies. Under the terms of the agreement, MorphoSys grants access to its proprietary antibody library to Schering-Plough for use in its drug discovery programs at one research site. Furthermore, the contract provides Schering-Plough with the option to develop HuCAL®-derived therapeutic antibodies against up to 10 disease-related targets. According to the agreement, MorphoSys will receive an up-front payment, annual user fees and optional R&D funding. For therapeutic antibody projects undertaken by Schering-Plough, MorphoSys is eligible to receive license and milestone payments related to the successful advancement of projects in clinical development, and royalties on HuCAL® antibodies developed under the agreement. Further financial details were not disclosed.