MorphoSys and Celgene in deal to advance MOR202 for multiple myeloma

27 June 2013

German biotech firm MorphoSys (FSE: MOR) and USA-based Celgene (Nasdaq: CELG), the world’s largest independent biotech company, have reached an agreement to jointly develop MOR202 globally and to co-promote MOR202 in Europe, in a multi-million dollar and equity deal.

The news sent MorphoSys' shares leaping 17% in morning trading, to 43.50 euros, their highest level since February 2001, according to Bloomberg.

MOR202 is currently being evaluated in a Phase I/IIa trial in patients with relapsed/refractory myeloma. MorphoSys and Celgene will collaborate on the development of MOR202 in multiple myeloma and other indications and share costs on a 1/3:2/3 basis.

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