Hogan Lovells advises MorphoSys on cooperation with Emergent BioSolutions
21 August 2014
MorphoSys, a TecDax listed company, has announced a licensing agreement with Emergent BioSolutions for the joint development and commercialization of the drug candidate ES414 targeting prostate cancer. The compound ES414, to be renamed MOR209/ES414, was developed by Emergent. Under the terms of the agreement, MorphoSys gains worldwide commercialization rights excluding the U.S. and Canada, where Emergent will retain rights.
The US-American company will receive an upfront payment of USD 20 million and potential milestone payments of up to USD 163 million linked to specific events, including successful development of MOR209/ES414 in several indications and securing approval in certain territories.
In the context of the cooperation, MorphoSys will bear 64% of the total development costs, Emergent 36%. Emergent will receive low single digit royalties on product sales in MorphoSys's territory and MorphoSys will receive tiered royalties from mid-single digit up to 20% on product sales in Emergent's territory.
Hogan Lovells has advised MorphoSys on all aspects of the agreement and various contractual related issues with Jörg Schickert as lead partner (Munich) and his team.
MorphoSys is one of the most renowned German biotech companies. Its HuCAL technology is the most successful antibody library technology in the pharmaceutical industry. By successfully applying this and other patented technologies, MorphoSys has become a leader in the field of therapeutic antibodies, one of the fastest growing drug classes in human healthcare.
Hogan Lovells team for MorphoSys:
Jörg Schickert acted as lead partner with a team around Arne Thiermann (counsel, both Life Sciences), Lutz Angerer (partner, corporate/capital markets), Falk Schöning (counsel, Antitrust, Competition & Economic Regulation, all Munich) and Bob Leibenluft (partner, Antitrust, Competition & Economic Regulation, Washington D.C.).