frankfurt – november 17, 2010 · 2015-01-08 · 17% 5% novartis astrazeneca management &...

WestLB Deutschland Conference

Frankfurt – November 17, 2010

Safe Harbour

This presentation includes forward-looking statements.This presentation includes forward looking statements.Actual results could differ materially from those included in the forward-looking statements due to various risk factors and uncertainties including changes in business, economic competitive conditions regulatory reforms foreign exchange rate fluctuations and thecompetitive conditions, regulatory reforms, foreign exchange rate fluctuations and the availability of financing. These and other risks and uncertainties are detailed in the Company’s Annual Report.

MorphoSys at a Glancep y

CAn independent antibody companyM i i d/G i i UK USCompany Martinsried/Germany, sites in UK, USFrankfurt Stock Exchange – TecDAX

TechnologyLeading, proprietary HuCAL platformStrong & undisputed patent estate

SegmentsTherapeutic antibodiesAbD Serotec: Research/diagnostic antibodies

BusinessStrong alliances with pharma companiesOver 70 drug programs based on HuCAL

FinancialsSustained profitability10-year $1bn strategic alliance with Novartis

© MorphoSys AG© MorphoSys AG

10 year, $1bn strategic alliance with Novartis

MorphoSys AG – Company Update – November 2010

Relative Strength of Corporate Germanyg p y

The pharmaceutical industryis generally not affected by financial downturns butis generally not affected by financial downturns, but…is now under immense pressure worldwide due to healthcare reform (USA), price controls (elsewhere) & patent expiries,

dand…needs innovative partners to source the next generation of drugs

MorphoSysis one of the leading antibody development companies worldwidecommands innovative technologies for drug discoveryg g yis financially stronghas a network of long-term alliances, which make us


independent of market turbulence


Recent Developmentsp

June MorphoSys and Xencor Sign License & Collaboration Agreement for Clinical Antibody ProgramAgreement for Clinical Antibody Program

J lMorphoSys Receives Research Grant to Advance A ti CD38 C P MOR202 d E lJuly Anti-CD38 Cancer Program MOR202 and Explore Relevant Biomarkers

July & August MorphoSys Announces Two Clinical Milestones from Strategic Alliance with Novartis

September MorphoSys Initiates Program Against Drug-Resistant MRSA Infections

OctoberMorphoSys Acquires the Private German Company Sloning, a Biotechnology Company Developing New Methods of Synthetic Biology

© MorphoSys AG© MorphoSys AGMorphoSys AG – Company Update – November 2010

Methods of Synthetic Biology

Current Product Pipeline

Name Partner Target Indication Discovery Preclinic Phase 1 Phase 2 Phase 3 Market

p75 Programs OngoingName Partner Target Indication Discovery Preclinic Phase 1 Phase 2 Phase 3 MarketMOR103 - GM-CSF RABHQ880 Novartis DKK-1 Cancer

CNTO888 Centocor MCP-1 Immunology/CCancer

n.d. Novartis n.d. n.d.Gantenerumab Roche Amyloid-β ADn.d. Centocor n.d. InflammationBAY79-4620 Bayer Schering CA IX (MN) Cancern.d. Centocor n.d. Inflammation/AIDn.d. Novartis n.d. Musculoskeletal

d N ti d O hth l l in.d. Novartis n.d. OphthalmologicMOR208(XmAb5574) - CD19 CLL

MOR202 - CD38 Multiple Myeloma24 P t d24 Partnered Programs* Various Various Various*

32 Partnered Programs* Various Various Various*

MOR104 - n.d. Inflammation

* Includes cancer, inflammatory, autoimmune,

MOR105 - n.d. InflammationMOR205 - n.d. CancerMOR206 - n.d. Cancer

infectious, musculoskeletal & central nervous system diseases

n d not disclosed


2 Programs MOR/NOV n.d. Inflammation


n.d. – not disclosed

MOR103In Development for Rheumatoid Arthritis

TargetGM-CSF, which plays a central role in activating granulocytes and macrophages, essential in the inflammatory cascade

DrugA high affinity, fully human, HuCAL antibody

Clinical Trial Design and Development TimelineEuropean Phase 1b/2a study in 135 RA patients, randomized, double-blind, placebo-controlled, multiple ascending dosePrimary outcome measures: Adverse event rate and safety profile Secondary outcome measures: DAS28, ACR score set measures and EULAR28 response criteria, cytokines, synovitis, bone edema, pharmaco-kinetics, immunogenicity and patient reported outcomes up to 16 weeks

2008 2009 2010 2011 2012

Phase 1Phase 1

Phase 1b/2a

Follow up & Data Analysis


Final Phase 1b/2a Data


MOR208In Development for B-Cell Malignancies

TargetCD19, a pan B-cell markerp

DrugHumanized, affinity optimized anti-CD19 antibody, comprising a proprietary modification that enhances effector cell recruitmentIn-licensed from XencorEnhanced affinity for Fc receptor leads to rapid and sustained B-cell depletionp

Clinical Trial DesignMulti-centre, open-label, multi-dose, single-arm phase 1, dose-escalation study in USAyPatients with chronic lymphocytic leukaemia, who have not responded to or have become refractory to previous therapiesObjectives: Investigate maximum tolerated dose, safety and tolerability, j g y ypharmacokinetics and immunogenicitySecondary Objective: Assess preliminary anti-tumor activityXencor funds phase 1 trial from US$ 13 million up-front payment


p p p y


MOR202In Development for Multiple Myeloma

TargetCD38, a key target present on the vast majority of multiple myeloma cells

DrugA high affinity, fully human HuCAL antibody

Clinical Trial Design and Development TimelineFile CTA in Q4 2010Very promising pre-clinical efficacy dataMOR202 cross-reacts with CD38 from a relevant toxicology species which facilitates generation of aMOR202 cross reacts with CD38 from a relevant toxicology species, which facilitates generation of a comprehensive safety package, and will lead to shorter clinical development timelinesPharmacokinetics in all species tested showed half-life suitable for clinical development

2009 2010 2011

Manufacturing

Toxicity Studyy y

CTA Preparation

CTA Filing

S f Ph 1/2


Start of Ph 1/2a

Partnered ProgramsgPhase 2 Clinical Development

Partner &Program

Phase Disease StatusProgram

NovartisPh 1/2 Osteolytic bone

di

HuCAL antibody targeting DKK-1Clinical trials in multiple myeloma patients

BHQ880Ph 1/2 disease Clinical trials in multiple myeloma patients

Early data point to stimulation of bone formation

Centocor OrthoBiotechCNTO888

Ph 2 Oncology & immunology

HuCAL antibody targeting MCP-1MCP-1 regulates prostate cancer growth and metastasis

CNTO8882 oncology trials and 1 immunology trial ongoing

HuCAL IgG1 antibody targeting amyloid-βRocheGantenerumab

Ph 2 planned Alzheimer‘s disease

HuCAL IgG1 antibody targeting amyloid βAmyloid-β implicated as causal factor in ADPhase 2 study in patients with prodromal AD to start soon


start soon

Partnered ProgramsgPhase 1 Clinical Development

Partner Status

NovartisJune 2009: Start of Phase 1Clinical proof of concept achieved

Centocor Ortho Biotech June 2009: Start of Phase 1 in inflammation

Bayer HealthcareOctober 2009: Start of Phase 1 trial in oncologyBAY79-4620, targeting CA IX is an antibody-drug conjugate

Centocor Ortho Biotech June 2010: Start of Phase 1 in inflammation/auto-immune disease

Novartis July 2010: Start of Phase 1 in musculoskeletal diseases

Novartis August 2010: Start of Phase 1 in ophthalmological diseases


g p g

Clinical Pipelinep

16

Number of Partnered and Proprietary Programs at Year-end

5121416

Phase 1 Phase 2 5

81012

1014

468

1 24 4 4

02

2005 2006 2007 2008 2009 2010E

Clinical Antibody Pipeline is a Key Value Driver


Clinical Antibody Pipeline is a Key Value Driver

AbD SerotecPromising Market Opportunities

Optimized antibodies based on HuCAL technology

Diagnostic Antibodies$ 7bn market – strong growthStrong demand for optimized antibodies forStrong demand for optimized antibodies for existing assaysNeed to develop new tools for diagnostic applications

Research Antibodies

applications

Research Antibodies$ 2bn marketSolid and profitable business based on 15,000 productsS f l l t t bli h d


Successful supply agreements established


Guidance 2010

In million EUR 2010E* 2009A

Total Group Revenues 89 – 90 81.0

AbD Serotec ~21 19 4AbD Serotec ~21 19.4

Group Operating Profit 7 – 9 11.4

AbD Serotec Operating Profit Margin 5% – 8% 5%

2010* Estimated numbers

2010Increase of total proprietary R&D investment to € 27 – 29 million (2009: € 19.3 million)

2011 – 2012Aiming for 10% - 20% annual revenue growthMaintain profitability while strengthening pipeline


Maintain profitability while strengthening pipeline

Shareholder Structure and Key Financialsy

Key Financials Shareholder Structure (Dec. 2009)

7%5%17%

NovartisAstraZeneca

Management & Supervisory Board

In million EUR 9M 2010 9M 2009Revenues 62.8 57.6Cost of Goods Sold 5.5 5.15%

2%

10%

17%R&D Expenses 32.5 27.5

S,G&A Expenses 16.8 15.7

T l O i E 4 8 48 37%

7%30%

Total Operating Expenses 54.8 48.3Operating Profit 8.0 9.3Net Profit 7.2 7.7

4%4%7%

EPS (diluted) in EUR 0.32 0.34

USA GermanyUK FranceSwitzerland Other countries

Cash, Cash Equivalents and Available-for-sale Financial Assets as of September 30, 2010:

€ 132 1 illi


Retail Unidentified € 132.1 million

Anticipated News-flowp

Proprietary product portfolioCommence MOR208 Phase 1 CLL trial in US (Q4E)( )

File clinical trial application for MOR202 (Q4E)

New projects, including co-developments

Partners’ pipeline1 – 3 additional, new INDs

At least one additional phase 2

Clinical data

Technology: Update regarding latest technology developmentPotential strategic transactions

Strengthen technology platform

Broaden offering in the diagnostic space (AbD Serotec)


Future Value Creation

Proprietary HuCAL-based

First HuCAL-based drugs

p ydrugs on the market

Out-licensing of

on the market

gown compounds

First clinical proof of concept

Investments in proprietary compounds

proof of concept

St t i lliStrategic alliance with Novartis

T d


Today

Thank You

www.morphosys.com

Dr. Claudia Gutjahr-LöserHead of Corporate Communications & IR

Phone +49 (0)89 / 899 27-122

Dr. Simon MoroneyChief Executive Officer

Phone +49 (0)89 / 899 27-311 ( )Fax +49 (0)89 / 899 27-5122Email [email protected]

( )Fax +49 (0)89 / 899 27-5311

HuCAL®, HuCAL GOLD®, HuCAL PLATINUM®, CysDisplay®, RapMAT® and AutoCAL® are registered trademarks of MorphoSys AG

frankfurt – november 17, 2010 · 2015-01-08 · 17% 5% novartis astrazeneca management &...

Documents