Goodwin advised Galapagos NV and MorphoSys AG on their global license agreement with Novartis Pharma AG to cover the development and commercialization of their joint program MOR106. MOR106 is an investigational fully human IgG1 monoclonal antibody designed to selectively target IL-17C, currently being developed for treatment of inflammatory diseases.
Upon the signing of the agreement, all future research, development, manufacturing and commercialization costs for MOR106 will be borne by Novartis. In addition, MorphoSys and Galapagos will jointly receive an upfront payment of €95 million (USD 111 million*). Pending achievement of certain developmental, regulatory, commercial and sales-based milestones, MorphoSys and Galapagos would jointly be eligible to receive significant milestone payments, potentially amounting up to approximately €850 million (USD 1 billion*), in addition to tiered royalties on net commercial sales in the range of up to low-teens to low-twenties.
Galapagos is a clinical-stage biotechnology company specialized in the discovery and development of small molecule medicines with novel modes of action.
MorphoSys is a late-stage biopharmaceutical company devoted to the development of innovative and differentiated therapies for patients suffering from serious diseases.
The Goodwin team was led by partner Christopher Denn (Picture) and included partner Markus Bauman; counsel Todd Hahn; and associate Ian Longacre.
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