Astellas extends MorphoSys accord to 2012

German synthetic antibody specialist MorphoSys AG says that Astellas, Japan's second-largest ethical pharmaceutical company, has decided to extend their collaboration. Originally signed in March 2007, the accord has been extended for four more years until March 2012. The Japanese drugmaker will continue to have access to MorphoSys' proprietary antibody library HuCAL GOLD at its research site in Tsukuba, Japan.

Furthermore, the extension includes an option for Astellas to develop and commercialize HuCAL-derived therapeutic antibodies, in which case MorphoSys would receive exclusive license fees and milestone payments, as well as royalties. Under the terms of extended agreement, MorphoSys continues to receive annual user fees for access to its HuCAL platform. Further financial details were not disclosed.