MorphoSys gets milestone from Novartis; acquires new technology
German company MorphoSys (FSE: MOR) says it has received a milestone payment from Novartis in connection with the initiation of a Phase I clinical trial of a HuCAL antibody in the field of diabetic eye diseases.
This becomes the ninth therapeutic antibody made using MorphoSys' technologies that Novartis is evaluating in clinical trials. The official start of the clinical trial, which will be conducted in research centers in Australia, is pending final approval by regulatory authorities there.
"The clinical output of our strategic alliance with Novartis has been remarkable so far. We are looking forward to seeing more programs with Novartis moving into the clinic in the months and years ahead," commented Marlies Sproll, chief scientific officer of MorphoSys, adding: "We are also very pleased that this is the third ophthalmology program within our collaboration to enter the clinical development stage."
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