MARTINSRIED / MUNICH, Germany, Nov. 2, 2016 (GLOBE NEWSWIRE) -- MorphoSys AG (FSE: MOR; Prime Standard Segment, TecDAX; OTC: MPSYY) and LEO Pharma today announced that they have entered into a strategic alliance for the discovery and development of therapeutic antibodies for the treatment of skin diseases. The objective of the alliance is to identify novel, antibody-based therapeutics for unmet medical needs that will be valuable additions to both companies' pipelines.
Collaborating on multiple targets selected by LEO Pharma, the two companies will work together to identify, validate and develop novel therapeutic antibodies. MorphoSys will apply its proprietary Ylanthia technology to generate fully human antibody candidates against the selected targets and will conduct all development activities up to the start of clinical testing. LEO Pharma will be responsible for clinical development and commercialization of resulting drugs in all indications outside of cancer. In skin cancer indications, MorphoSys will have options to co-develop and, in Europe, co-promote the respective antibody drugs. In addition, MorphoSys will have certain options to develop and commercialize programs arising from the collaboration in other cancer indications.
MorphoSys will receive R&D funding as well as success-based development, regulatory and commercial milestone payments, plus royalties on net sales of drugs commercialized by LEO Pharma. Assuming all development, regulatory and sales objectives are reached, milestone payments would sum up to EUR 111.5 million per antibody program.
"We are excited to join forces with LEO Pharma in a strategic alliance to develop novel, antibody-based drugs," said Dr. Simon Moroney, Chief Executive Officer of MorphoSys. "Combining our antibody expertise with LEO Pharma's deep understanding of dermatology creates an ideal route to products in an area of severe unmet medical need. This alliance is another important step in the execution of our strategy of leveraging our capabilities to build a pipeline of innovative therapeutic antibodies."
"We see exciting potential to develop new treatments for people with skin diseases through our strategic alliance with MorphoSys," said Gitte Aabo, CEO & President of LEO Pharma. "By joining forces to discover and develop new therapeutic antibodies, we aim to address a high unmet medical need among people with skin diseases. This partnership demonstrates our commitment to expanding our treatment offering and strengthening our position in biologics within dermatology."
About MorphoSys:
MorphoSys developed HuCAL, the most successful antibody library technology in the pharmaceutical industry. By successfully applying this and other patented technologies, MorphoSys has become a leader in the field of therapeutic antibodies, one of the fastest-growing drug classes in human healthcare.
Together with its pharmaceutical partners, MorphoSys has built a therapeutic pipeline of more than 100 human antibody drug candidates for the treatment of cancer, rheumatoid arthritis, and Alzheimer's disease, to name just a few. With its ongoing commitment to new antibody technology and drug development, MorphoSys is focused on making the healthcare products of tomorrow. MorphoSys is listed on the Frankfurt Stock Exchange under the symbol MOR. For regular updates about MorphoSys, visit http://www.morphosys.com.
HuCAL®, HuCAL GOLD®, HuCAL PLATINUM®, CysDisplay®, RapMAT®, arYla®, Ylanthia®, 100 billion high potentials®, Slonomics®, Lanthio Pharma® and LanthioPep® are registered trademarks of the MorphoSys Group.
About LEO Pharma
LEO Pharma helps people achieve healthy skin. By offering care solutions to patients in more than 100 countries globally, LEO Pharma supports people in managing their skin conditions. Founded in 1908 and owned by the LEO Foundation, the healthcare company has devoted decades of research and development to delivering products and solutions to people with skin conditions. LEO Pharma is headquartered in Denmark and employs around 5,000 people worldwide.
For more information, visit www.leo-pharma.com
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This communication contains certain forward-looking statements concerning the MorphoSys group of companies. The forward-looking statements contained herein represent the judgment of MorphoSys as of the date of this release and involve risks and uncertainties. Should actual conditions differ from the Company's assumptions, actual results and actions may differ from those anticipated. MorphoSys does not intend to update any of these forward-looking statements as far as the wording of the relevant press release is concerned.
For more information, please contact:
MorphoSys AG
Dr. Claudia Gutjahr-Löser
Head of Corporate Communications & IR
Jochen Orlowski
Associate Director Corporate Communications & IR
Alexandra Goller
Senior Manager Corporate Communications & IR
Tel: +49 (0) 89 / 899 27-404
investors@morphosys.com
LEO Pharma
Eva Juul Langlands
Media Relations Manager
Tel: +45 4188 3094
eva.langlands@leo-pharma.com
Media Release (PDF) http://hugin.info/130295/R/2052910/768373.pdf