Novartis/MorphoSys expand R&D accord
German synthetic antibody specialist MorphoSys AG has expanded its existing collaboration with Swiss drug major Novartis. Financial terms were undisclosed.
The original accord provided for a three-year term with an option for Novartis to extend. The alliance will now go through May 2011 and, in light of the move, MorphoSys is currently reviewing the status of its financial guidance for 2006 and will provide an update by July 28. Last year, MorphoSys earned its first milestone as part of the May 2004 Novartis accord (Marketletter August 15, 2005).
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