MARTINSRIED, Germany, Jan. 19, 2009 (GLOBE NEWSWIRE) -- MorphoSys AG (FSE:MOR) (Prime Standard Segment:TecDAX) today outlined its planned proprietary developments for 2009 and provided an update on its partnered antibody pipeline. The Company intends to advance and broaden its proprietary therapeutic antibody pipeline with its most advanced compound MOR103 expected to enter a phase 2 clinical trial in the second half of 2009. MorphoSys is in a robust position to increase its investment in proprietary drug development, with strong and increasing revenues from its partnered discovery business, a cash balance in excess of EUR 130 million at December 31, 2008 and no material bank debt. The Company plans to more than double its investment in proprietary R&D in 2009, and expects to record a healthy profit as in previous years.
