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news.GlaxoSmithKline (GSK) has agreed to assume responsibility for all development and commercialization of MorphoSys' proprietary HuCAL-derived antibody against GM-CSF, MOR103.
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MOR103 has concluded Phase 1/2 development in mild to moderate rheumatoid arthritis.
As per the terms of the agreement, MorphoSys will receive from GSK $29.3m (€22.5m) as immediate upfront payment and tiered, double-digit royalties on net sales.
Around $550.94m (EUR 423m) will be paid by GSK to MorphoSys after reaching milestones based on developmental, regulatory, commercial and sales.
MorphoSys CEO Simon Moroney said "We hope this alliance will result in a significant return on investment for the MOR103 program and to become a major value driver for MorphoSys."
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MorphoSys chief development officer Arndt Schottelius said, "The pre-clinical and clinical data we have generated show that MOR103 has the potential to offer new treatment options for rheumatoid arthritis."
Having already completed a Phase 1 study in healthy volunteers and a Phase 1/2 clinical trial in mild to moderate rheumatoid arthritis patients, the antibody is now under Phase 1b dose-escalation safety study in multiple sclerosis.