MorphoSys, HIBio Reach Agreements For Felzartamab And MOR210

(RTTNews) - MorphoSys AG (MOR) and Human Immunology Biosciences Inc. or HIBio reached an equity participation agreement and license agreements to allow HIBio to develop and commercialize MorphoSys' felzartamab, an anti-CD38 antibody, and MOR210, an anti-C5aR1 antibody, MorphoSys said in a statement.

As per the terms of the agreements, HIBio will obtain exclusive rights to develop and commercialize felzartamab and MOR210 across all indications worldwide, with the exception of Greater China for felzartamab and Greater China and South Korea for MOR210.

As part of the agreements, MorphoSys will receive a 15% equity stake in HIBio, along with certain equity earn-in provisions and standard investment rights. MorphoSys will also be represented as a member of HIBio's Board of Directors.

On achievement of development, regulatory and commercial milestones, MorphoSys will be eligible to receive payments from HIBio of up to $1 billion across both programs, in addition to tiered, single- to low double-digit royalties on net sales of felzartamab and MOR210 and will be compensated for ongoing program expenses. HIBio will assume full responsibility for future development and commercialization expenses.

Upon signing, MorphoSys also receives an upfront payment of $15 million for MOR210.