MorphoSys reported a three-year extension on its collaboration with Pfizer that more than doubles its potential worth. Pfizer now has the option to begin new therapeutic antibody projects. MorphoSys states that currently the collaboration encompasses five active therapeutic antibody programs.
The initial five-year therapeutic antibody agreement that was signed in 2003 has now been extended to 2011. The potential value for MorphoSys in research funding and developmental milestone payments increases to more than $100 million, not including royalties. The extension also calls for Pfizer to make a one-time payment.
MorphoSys will continue to use its HuCAL GOLD library to generate therapeutic antibodies against multiple new targets from Pfizer. Pfizer will carry out the preclinical and clinical development and the subsequent marketing of resulting products.