Advertise With UsAdvertise on our extensive network of industry websites and newsletters.
Get the PBR newsletterSign up to our free email to get all the latest PBR
news.MorphoSys AG has acquired two privately held companies, Biogenesis Ltd in the UK and its sister company Biogenesis Inc in the US. This move is set to position MorphoSys within the top five European research antibody suppliers.
Subscribe to our email newsletter
The final agreements, signed on January 20, 2005, specify the purchase of 100% ownership of Biogenesis Ltd and Biogenesis Inc by MorphoSys for GBP5.25 million, less net debt of approximately GBP700,000, in cash. The two Biogenesis companies will become wholly owned subsidiaries of MorphoSys AG.
The acquisition of the Biogenesis group provides MorphoSys with immediate access to new market channels for its innovative HuCAL antibody technology. With this technology, the combined company will be able to deliver highly specific recombinant antibodies to customers significantly faster than existing animal-based methods. MorphoSys expects this to greatly increase the value of Biogenesis’ current offerings.
MorphoSys will continue to support Biogenesis’ pre-existing portfolio of research products and seek to further market the HuCAL technology to Biogenesis’s worldwide customer and global distributor network.
MorphoSys AG CEO Simon Moroney and CFO Dave Lemus retain their current respective positions within the enlarged MorphoSys group of companies. The acquired companies will be integrated with MorphoSys’ existing research antibody business unit, Antibodies by Design. The new unit will run alongside the existing therapeutic antibodies unit, which comprises the largest part of the MorphoSys business.
Research antibodies are a fast growing market accounting for global sales in excess of $800 million in 2004.