MorphoSys has expanded its therapeutic antibody collaboration with Pfizer through 2011, triggering a payment from Pfizer. Under the extended agreement, Pfizer has the option to begin new therapeutic antibody projects with MorphoSys, resulting in the potential for MorphoSys to receive development milestone payments exceeding $100 million. Further financial details were not disclosed.

The agreement, originally signed in December 2003, was scheduled to end in December 2008. Under the extended agreement, MorphoSys will continue to use its HuCAL GOLD library to generate therapeutic antibodies against multiple new targets from Pfizer. Pfizer will conduct preclinical and clinical development and the subsequent marketing of resulting products. MorphoSys may receive increased research funding as well as milestone and royalty payments on any antibody products derived from the collaboration. The collaboration currently has five active therapeutic antibody programs.

"We are very pleased by the successful progress in our collaboration with Pfizer and their decision to intensify this alliance, which will now run until 2011," said Dr. Simon Moroney, chief executive officer of MorphoSys. "The year 2006 in review has been very successful for MorphoSys. This news represents the fourth substantial expansion of an existing deal for MorphoSys in 2006. In combination with three new commercial partnerships signed during the year, this development demonstrates the strong performance of our partnered therapeutic business."

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