MorphoSys Inks Licensing Agreement With Novartis For Preclinical Cancer Programs

  • MorphoSys AG's MOR subsidiary Constellation Pharmaceuticals Inc has entered into a global licensing agreement with Novartis AG NVS to research, develop and commercialize its pre-clinical inhibitors of a novel cancer target. 
  • This program was added to MorphoSys' research portfolio following its acquisition of Constellation Pharmaceuticals in 2021 for $1.7 billion.
  • "At MorphoSys, we will continue to focus our resources on driving our late- and mid-stage oncology pipeline forward, which has the potential to enhance the standard and quality of care in difficult-to-treat and debilitating types of blood cancers," said Jean-Paul Kress, CEO of MorphoSys. 
  • Novartis will assume full responsibility for the program's subsequent research, development, and commercialization activities. 
  • As part of the agreement, MorphoSys receives an immediate upfront payment of $23 million. 
  • MorphoSys will be eligible to receive milestone payments from Novartis in addition to mid-single- to low-double-digit royalties on program net sales.
  • Price Action: MOR shares are up 1.40% at $4.35 on the last check Wednesday.
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