MorphoSys, Novartis deal

MorphoSys exercised its second option to participate in development of a second antibody under its 2007 deal. The antibody against an undisclosed target is being developed to treat an inflammatory disease. Novartis will fund development until the antibody reaches preclinical development. Afterward, MorphoSys may opt for a formal co-development agreement, under which it would share costs and profits with Novartis (see BioCentury, Sept. 29, 2008). ...