The announcement builds on the existing agreement between the two companies, entered into in December 1999. In July 2001, the collaboration was extended to run through the end of 2005. The collaboration focuses on the use of human antibodies for application in the areas of therapy, diagnostics and target research. In the context of the agreement, MorphoSys receives annual license payments and can receive development-related milestone payments and royalties for marketed products.
“We are delighted to be expanding our collaboration with Bayer”, commented Dr. Simon Moroney, Chief Executive Officer of MorphoSys AG. “This expansion further enhances our capabilities for the development of therapeutic antibodies and is an important component for our partnering strategy.”