MorphoSys Stock Skyrockets On Entering Equity Participation and License Agreements With HIBio

MorphoSys Stock Skyrockets On Entering Equity Participation and License Agreements With HIBio
  • MorphoSys AG MOR and Human Immunology Biosciences, Inc. (HIBio), a biotechnology company, have established an equity participation agreement and license agreements to allow HIBio to develop and commercialize MorphoSys’ felzartamab, an anti-CD38 antibody, and MOR210, an anti-C5aR1 antibody.
  • HIBio is a biotechnology company based in South San Francisco that focuses on discovering and developing precision medicines for autoimmune and inflammatory diseases.
  • As per the agreements, HIBio obtains exclusive rights to develop and commercialize felzartamab and MOR210 across all indications worldwide, except Greater China for felzartamab and Greater China and South Korea for MOR210.
  • MorphoSys will receive a 15% equity stake in HIBio, and up to $1 billion in milestone payments across programs, plus single-to low double-digit royalties on net sales. MorphoSys receives an upfront payment of $15 million for MOR210.
  • MorphoSys will also be represented as a member of HIBio’s Board of Directors.
  • “At MorphoSys, we will continue to focus our resources on driving our late- and mid-stage oncology pipeline forward. This includes pelabresib, our potential best-in-class BET inhibitor, and tafasitamab, our CD19 targeting immunotherapy – two medicines that have the potential to enhance the standard and quality of care in difficult-to-treat and debilitating types of blood cancers,” commented Jean-Paul Kress, M.D., Chief Executive Officer of MorphoSys.
  • Price Action: MOR shares are trading higher by 25.70% at $5.73 during the post-market session on Tuesday.

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