MorphoSys AG has announced that Astellas Pharma Inc. has decided to extend the current collaboration between the two companies. The collaboration, originally signed in March 2007, will now run its full term.
Under the agreement, which is now extended for four more years until March 2012, Astellas will continue to have access to MorphoSys's proprietary antibody library HuCAL GOLD at its research site in Tsukuba, Japan.
Furthermore, the extension includes an option for Astellas to develop and commercialize HuCAL-derived therapeutic antibodies, in which case MorphoSys would receive exclusive license fees, milestone payments, as well as royalties.
Under the extended agreement MorphoSys continues to receive annual user fees for access to its HuCAL platform. Further financial details were not disclosed.
"We are very pleased by the successful progress in our collaboration with Astellas and their decision to continue using our HuCAL GOLD technology for their antibody development programs," commented Dr. Simon Moroney, Chief Executive Officer of MorphoSys.
"Today's news is a clear signal that our HuCAL technology will continue to be the basis of drug development programs at a number of companies throughout the global pharmaceutical industry," Moroney added.