MorphoSys Licenses RapMAT Technology to Astellas
MARTINSRIED, Germany, July 23, 2008 (PRIME NEWSWIRE) — MorphoSys AG (Frankfort:MOR) (Prime Standard Segment, TecDAX) announced today that Astellas Pharma Inc. has exercised a pre-existing option to use MorphoSys’s proprietary RapMAT technology for faster antibody optimization as part of the existing technology transfer agreements between the two companies. As a result, Astellas will have access to MorphoSys’s RapMAT technology module alongside the existing installation of the Company’s proprietary antibody library HuCAL GOLD at Astellas’ research site in Tsukuba, Japan. Under the extended agreement MorphoSys will receive annual user fees for the RapMAT technology and continues to receive annual user fees for access to its HuCAL platform. Further financial details were not disclosed.
RapMAT, which stands for “rapid maturation”, improves the options for identifying antibodies from the HuCAL libraries and reduces the time for generating promising therapeutic lead molecules. The RapMAT technology is completely compatible with the HuCAL GOLD antibody library. MorphoSys believes that the use of RapMAT can greatly speed up antibody drug discovery, while widening the pool of drug candidates from which to choose.
“Today’s news marks our second RapMAT-based technology deal with an existing partner. We welcome Astellas’s decision to broaden its technological portfolio and use our RapMAT technology module to speed up their internal drug development process,” commented Dr. Simon Moroney, Chief Executive Officer of MorphoSys. “Developments such as RapMAT are a result of our strategy to maintain our technological leadership in the field of human therapeutic antibodies, and thereby further strengthen our position in the market for this important class of drugs.”
MorphoSys is a publicly traded biotechnology company focused on the generation of fully human antibodies as a means to discover and develop innovative antibody-based drugs against life-threatening diseases. MorphoSys’s goal is to establish HuCAL as the technology of choice for antibody generation in research, diagnostics and therapeutic applications. The Company currently has therapeutic and research alliances with the majority of the world’s largest pharmaceutical companies including Boehringer Ingelheim, Centocor/Johnson & Johnson, Novartis, Pfizer and Roche. Within these partnerships, more than 50 therapeutic antibody programs are ongoing in which MorphoSys participates through exclusive license and milestones payments as well as royalties on any end products. Additionally, MorphoSys is active in the antibody research market through its AbD Serotec business unit. The business unit has operations in Germany (Munich), the U.S. (Raleigh, NC) and U.K.(Oxford). For further information please visithttp://www.morphosys.com/
HuCAL(r), HuCAL GOLD(r) and RapMAT(r) are registered trademarks of MorphoSys AG
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.
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