- of MorphoSys AG MOR subsidiary Constellation Pharmaceuticals Inc Has entered into a global license agreement Novartis AG NVS to discover, develop and commercialize its preclinical inhibitors of a novel cancer target.
- This program was added following MorphoSys’s research portfolio acquisition by Constellation Pharmaceuticals in 2021 for $1.7 billion.
- “At MorphoSys, we will continue to focus our resources on advancing our late- and mid-stage oncology pipeline, which has the potential to improve the standard and quality of care in difficult-to-treat and debilitating types of blood cancers,” said Jean- Paul Kress, CEO of MorphoSys.
- Novartis assumes full responsibility for the program’s subsequent research, development and commercialization activities.
- As part of the agreement, MorphoSys will receive an immediate upfront payment of US$23 million.
- MorphoSys is eligible to receive milestone payments from Novartis in addition to mid to low double digit royalties on net sales of the program.
- Price promotion: MOR shares are up 1.40% to $4.35 on the latest check Wednesday.
© 2022 Benzinga.de. Benzinga does not provide investment advice. All rights reserved.
[ad_2]
Source story
