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MorphoSys up on Pfizer deal, milestones

December 11, 2010 12:18 AM UTC

MorphoSys AG (Xetra:MOR) gained EUR 1.61 (10%) to EUR 17.45 on a newsy Friday on which the company announced a deal with Pfizer Inc. (NYSE:PFE) and the receipt of three milestone payments related to antibody deals. The company granted Pfizer non-exclusive rights to use its Slonomics technology to synthesize highly diverse gene and protein libraries. MorphoSys will receive an upfront payment and is eligible for annual license fees. MorphoSys gained the technology through its October acquisition of Sloning BioTechnology GmbH. Slonomics uses sets of double stranded DNA triplets to manufacture diverse combinatorial gene libraries for protein production. Further terms were not disclosed.

Additionally, MorphoSys said three partners filed applications for Phase I trials of antibodies derived from MorphoSys' HuCAL antibody technology. The filings trigger undisclosed milestone payments to MorphoSys. The antibodies are in development for cancer and inflammatory diseases. The partners were not disclosed. ...