27 Mar 2008 - MorphoSys AG announced that DAIICHI SANKYO COMPANY, LIMITED has triggered its pre-existing option to extend the current collaboration between the two companies. The collaboration, originally signed in March 2006, was to end in March 2008. Under the agreement, which is now extended for up to three more years until March 2011, DAIICHI SANKYO will continue to have access to MorphoSys's proprietary antibody library HuCAL GOLD at its research site in Tokyo.
Furthermore, the extension includes an option for DAIICHI SANKYO to develop and commercialize up to 6 HuCAL-derived therapeutic antibodies, in which case MorphoSys would receive exclusive license fees, milestone payments, as well as royalties. The collaboration encompasses one active therapeutic antibody program. The extension triggers an additional payment from DAIICHI SANKYO and results in increased research funding for MorphoSys. Furthermore, under the extended agreement MorphoSys continues to receive annual user fees for access to its HuCAL platform. Further financial details were not disclosed.
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