MorphoSys - MOR103 – Partnering is Just the Beginning of a New Phase of Growth
Licensing of un-partnered early programs and the clinical data of its maturing therapeutic antibody pipeline are future drivers of Morphosys (MOR). After selling its services division (AbD Serotec) last year MOR is poised to evolve into a successful biotech company on the strength of its innovative platforms to develop biologics. Partnering of MOR-103 (PhII in RA, PhI in MS, GSK) - MOR enter into out-licensing deal with GSK for its leading compound MOR-103 (Anti GM-CSF mAb,) for a total value of €445.5m (upfront: €22.5m + development, regulatory and sales milestone of €423m) + double-digit tiered royalty. GSK already markets Arzerra (Ofatumumab, RA TNF refractory), and has other biologics in the clinic for RA... For more detail, please read our report released on June 05, 2013, titled, “MorphoSys - MOR103 – Partnering is Just the Beginning of a New Phase of Growth”.
