Bio-Rad to Acquire MorphoSys's Research and Diagnostic Antibody Business AbD Serotec
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MorphoSys AG /
Bio-Rad to Acquire MorphoSys's Research and Diagnostic Antibody Business AbD
Serotec
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MorphoSys to Increase Focus on Therapeutics
MorphoSys AG (FSE: MOR; Prime Standard Segment, TecDAX) announced today that it
has agreed to sell its research and diagnostic antibody segment AbD Serotec to
Bio-Rad Laboratories, Inc. (NYSE: BIO), a multinational manufacturer and
distributor of life science research and clinical diagnostic products. The total
consideration amounts to approximately EUR 53 million and will be settled in
cash. The total consideration comprises the purchase price, compensation for
cash reserves in the AbD Serotec companies in the amount of approximately EUR 5
million and a license payment for the use of the HuCAL technology in the
research and diagnostic markets. The transaction is subject to certain closing
conditions, and is expected to be completed in January, 2013.
"This transaction was done to enable an increased focus on our therapeutic
business segment", commented Dr. Simon Moroney, Chief Executive Officer of
MorphoSys AG. "We are making great progress in our therapeutic antibody
pipeline, which is a huge potential value driver for MorphoSys. With the sale of
AbD Serotec, we will bring a laser-like focus to driving growth in this, our
area of core competence."
According to the terms of the transaction, Bio-Rad Laboratories will acquire all
of MorphoSys's AbD Serotec research reagent and diagnostic business, comprising
the AbD Serotec segment of MorphoSys AG as well as the subsidiaries MorphoSys UK
Ltd., MorphoSys AbD GmbH and MorphoSys US, Inc. In addition, the transaction
includes a fully paid-up, non-exclusive license agreement to use MorphoSys's
HuCAL technology for diagnostic and research purposes.
"As a result of today's transaction MorphoSys will concentrate on technology and
drug development. It enables us to fully dedicate our financial resources to the
most significant value drivers," commented Jens Holstein, Chief Financial
Officer of MorphoSys AG. "Bio-Rad provides AbD Serotec and its employees with an
ideal environment in which to exploit its potential in the research and
diagnostic arena."
MorphoSys will hold a public conference call and webcast tomorrow, Monday,
December 17, 2012 at 02:00 p.m. CET (08:00 a.m. EST, 01:00 p.m. BST) to present
more information on the AbD Serotec / Bio-Rad transaction.
Dial-in number for the Conference Call (listen-only):
Germany: +49 89 2444 32975
For U.K. residents: +44 20 3003 2666
For U.S. residents: +1 202 204 1514
Please dial in 10 minutes before the beginning of the conference.
In addition, MorphoSys offers participants the opportunity to follow the
presentation through a simultaneous slide presentation online at
http://www.morphosys.com/conference-calls.
A live webcast, slides, webcast replay and transcript will be made available at
http://www.morphosys.com/conference-calls.
About MorphoSys:
MorphoSys developed HuCAL, the most successful antibody library technology in
the pharmaceutical industry. By successfully applying this and other patented
technologies, MorphoSys has become a leader in the field of therapeutic
antibodies, one of the fastest-growing drug classes in human healthcare.
Together with its pharmaceutical partners, MorphoSys has built a therapeutic
pipeline of more than 70 human antibody drug candidates for the treatment of
cancer, rheumatoid arthritis, and Alzheimer's disease, to name just a few. With
its ongoing commitment to new antibody technology and drug development,
MorphoSys is focused on making the healthcare products of tomorrow. MorphoSys is
listed on the Frankfurt Stock Exchange under the symbol MOR. For regular updates
about MorphoSys, visit http://www.morphosys.com
HuCAL(®), HuCAL GOLD(®), HuCAL PLATINUM(®), CysDisplay(®), RapMAT(®), arYla(®)
and Ylanthia(®) and 100 billion high potentials(®) are registered trademarks of
MorphoSys AG.
Slonomics(®) is a registered trademark of Sloning BioTechnology GmbH, a
subsidiary of MorphoSys AG.
This communication contains certain forward-looking statements concerning the
MorphoSys group of companies. The forward-looking statements contained herein
represent the judgment of MorphoSys as of the date of this release and involve
risks and uncertainties. Should actual conditions differ from the Company's
assumptions, actual results and actions may differ from those anticipated.
MorphoSys does not intend to update any of these forward-looking statements as
far as the wording of the relevant press release is concerned.
For more information, please contact:
MorphoSys AG
Dr. Claudia Gutjahr-Löser
Head of Corporate Communications & IR
Tel: +49 (0) 89 / 899 27-122
Mario Brkulj
Senior Manager Corporate Communications & IR
Tel: +49 (0) 89 / 899 27-454
Alexandra Goller
Specialist Corporate Communications & IR
Tel: +49 (0) 89 / 899 27-332
investors(at)morphosys.com
Media Release (PDF):
http://hugin.info/130295/R/1665464/540350.pdf
This announcement is distributed by Thomson Reuters on behalf of
Thomson Reuters clients. The owner of this announcement warrants that:
(i) the releases contained herein are protected by copyright and
other applicable laws; and
(ii) they are solely responsible for the content, accuracy and
originality of the information contained therein.
Source: MorphoSys AG via Thomson Reuters ONE
[HUG#1665464]
Unternehmensinformation / Kurzprofil:
Datum: 16.12.2012 - 18:51 Uhr
Sprache: Deutsch
News-ID 213136
Anzahl Zeichen: 6604
contact information:
Town:
Martinsried / München
Kategorie:
Business News
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