MorphoSys Announces Acquisition of Sloning
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MorphoSys AG /
MorphoSys Announces Acquisition of Sloning
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Combination of Technologies Set to Increase Success Rates in
Drug Development
MorphoSys AG (FSE: MOR; Prime Standard Segment, TecDAX) announced today the
acquisition of the private German company Sloning BioTechnology GmbH, a
biotechnology company developing new methods of synthetic biology. The
transaction will make MorphoSys the sole source of Sloning's state-of-the-art
Slonomics technology, which dramatically improves the assembly and quality of
protein libraries. By integrating Slonomics into its existing antibody
technology platform, MorphoSys expects to improve the generation of drug
candidates such that one in every two projects started reaches clinical
development. The technology will also be used to accelerate the generation of
both therapeutic and diagnostic antibodies. Sloning's shareholders received a
one-off EUR 19 million cash payment upon signing.
"This acquisition secures our position at the forefront of antibody technology,"
commented Dr Simon Moroney, Chief Executive Officer of MorphoSys AG. "Sloning's
unique technology is the most powerful method available for assembling protein
libraries and has been proven to deliver superior products for a range of
applications. We plan to use it to generate optimized antibodies much faster
than can be done today and also to gain access to antibodies that simply can't
be made with current technologies."
Sloning's patented core technology enables the precise construction of protein
libraries comprising defined mixtures of amino acids at pre-determined positions
with unprecedented speed. This technology opens the way to a new and flexible
approach to generating optimized proteins, such as antibodies.
"Current antibody generation technologies use an initial repertoire, which
largely determines the properties of the resulting antibody. We intend to use
Slonomics as the basis of a fundamentally different approach, which will rapidly
test multiple generations of antibodies, equivalent to screening many billions
of molecules, to isolate the best possible candidate", stated Dr Marlies Sproll,
Chief Scientific Officer of MorphoSys AG. "We expect to shorten the time needed
to generate an antibody drug candidate by a third and even more importantly, to
increase the proportion of programs reaching clinical development to 50%."
Sloning, founded in 2001, is a private company based in Puchheim, near Munich.
The major shareholders are HBM BioVentures, KfW, LBBW Venture Capital and
Deutsche Effecten- und Wechsel-Beteiligungsgesellschaft. The company has
developed and refined its proprietary technologies through collaborations with a
number of pharmaceutical and industrial customers.
"We believe that the two companies' technology portfolios and extensive
expertise will lead to superior therapeutic, diagnostic and industrial
products," commented the Chief Executive Officer of Sloning, Dr Heinz Schwer,
who will join MorphoSys, becoming a member of the senior management team.
"MorphoSys has the financial resources required to fully exploit the potential
and capabilities of the Sloning technology platform and there is a strong fit in
the culture of both companies," complements Dr Harald Poth, chairman of
Sloning's advisory board.
Sloning's financial results will be fully consolidated into MorphoSys's accounts
from today onwards. Today's transaction is not material in respect of
MorphoSys's financial guidance for 2010.
MorphoSys will hold a public conference call tomorrow, October 08, at 02:00 p.m.
CEST (08:00 a.m. EDT, 01:00 p.m. BST) to present key information on the
acquisition of Sloning.
Dial-in number for the Conference Call (listen-only):
Germany: +49 (0) 89 24443 2975
For U.K. residents: +44 (0) 20 3003 2666
For U.S. residents: +1 212 999 6659
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
athttp://www.morphosys.com
A live webcast, slides, webcast replay and transcript will be made available
athttp://www.morphosys.com
Approximately two hours after the press conference, a slide-synchronized audio
replay of the conference will be available onhttp://www.morphosys.com
??+++ Save the dates: MorphoSys's R&D Day 2010 +++
London - Thursday, November 25, 2010
New York - Monday, November 29, 2010 ??
About MorphoSys:
MorphoSys is an independent biotechnology company that develops novel antibodies
for therapeutic, diagnostic and research applications. The Company's HuCAL
technology is one of the most powerful methods available for generating fully
human antibodies. By successfully applying this and other proprietary
technologies, MorphoSys has become a leader in the field of therapeutic
antibodies, one of the fastest-growing drug classes in human health-care.
Through its alliances with some of the world's leading pharmaceutical companies,
MorphoSys has created a pipeline of more than 60 drug candidates. The Company is
expanding its drug pipeline by adding new partnered programs, and by building a
portfolio of fully-owned therapeutic antibodies. For its proprietary portfolio,
the Company is focused on the areas of oncology and inflammation. Its most
advanced program MOR103, a first-in-class, fully human antibody against GM-CSF,
is currently tested in a Phase Ib/IIa trial in rheumatoid arthritis patients.
Via its business unit AbD Serotec, MorphoSys is expanding the reach of its
technologies in the diagnostics and research markets. MorphoSys is headquartered
in Munich, Germany and listed on the Frankfurt Stock Exchange under the symbol
"MOR". For further information, visithttp://www.morphosys.com/
HuCAL®, HuCAL GOLD®, HuCAL PLATINUM®, CysDisplay® and RapMAT® are registered
trademarks of MorphoSys.
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
Jessica Kulpi
Specialist Corporate Communications & IR
Tel: +49 (0) 89 / 899 27-332
investors(at)morphosys.com
[HUG#1449922]
--- End of Message ---
MorphoSys AG
Lena-Christ-Str. 48 Martinsried / München Germany
WKN: 663200;ISIN: DE0006632003;Index:TecDAX,Prime All Share,CDAX,TECH All Share,HDAX,MIDCAP;
Listed: Freiverkehr in Börse Stuttgart,
Freiverkehr in Hanseatische Wertpapierbörse zu Hamburg,
Freiverkehr in Börse Berlin,
Freiverkehr in Börse Düsseldorf,
Freiverkehr in Bayerische Börse München,
Freiverkehr in Niedersächsische Börse zu Hannover,
Prime Standard in Frankfurter Wertpapierbörse,
Regulierter Markt in Frankfurter Wertpapierbörse;
Press Release (PDF):
http://hugin.info/130295/R/1449922/391604.pdf
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Source: MorphoSys AG via Thomson Reuters ONE
Unternehmensinformation / Kurzprofil:
Datum: 07.10.2010 - 16:02 Uhr
Sprache: Deutsch
News-ID 44628
Anzahl Zeichen: 0
contact information:
Town:
Martinsried / München
Kategorie:
Business News
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