MARTINSRIED (dpa-AFX) - LEO Pharma A/S and MorphoSys AG(MOR) announced an expansion of their existing strategic alliance to include peptide-derived therapeutics. The objective of the alliance is to identify novel, peptide-derived therapeutics for unmet medical needs that will be valuable additions to both companies' pipelines. The alliance expands the existing partnership of the two companies signed in November 2016 to jointly discover and develop antibody-based therapies in dermatology.
As per the terms of the agreement, LEO Pharma will select targets against which MorphoSys will identify lead molecules using its proprietary peptide technology platform. LEO Pharma will either develop these lead molecules, or use them to aid the design of other drug candidates.
LEO Pharma will have exclusive, worldwide rights and be responsible for development and commercialization of resulting drugs in dermatology. MorphoSys will have an exclusive option to secure worldwide rights to any drugs arising from the collaboration in the field of oncology.
MorphoSys will receive R&D funding as well as success-based development, regulatory and commercial milestone payments, plus royalties on net sales of peptide drugs commercialized by LEO Pharma. Further financial details were not disclosed.
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