|By Marketwired .||
|August 10, 2013 03:12 AM EDT||
MARTINSRIED, GERMANY and MUNCHEN, GERMANY -- (Marketwired) -- 08/10/13 -- MorphoSys AG / MorphoSys Closes on the Alliance with Celgene for MOR202 and Increases Financial Guidance.
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Celgene Acquires 3.4 % Equity Stake via a Capital Increase
MorphoSys AG (FSE: MOR; Prime Standard Segment, TecDAX; OTC: MPSYY) today announced that its MOR202 alliance with Celgene Corporation has become effective upon receiving anti-trust clearance under the US Hart-Scott-Rodino Act. In conjunction with deal closure, MorphoSys increased its financial guidance for fiscal year 2013 and the management board and supervisory board of MorphoSys resolved on a capital increase from authorized capital to issue 797,150 new shares to Celgene Alpine Investment Co., LLC.
Jens Holstein, Chief Financial Officer of MorphoSys AG, commented: "We are very pleased about receiving regulatory clearance and will now put our strategic alliance with Celgene into action. The upfront payment plus the equity further strengthens our financial position, enabling us to expand our proprietary portfolio of promising development candidates through targeted investments".
As a result of the Celgene transaction, MorphoSys has increased its financial guidance for fiscal year 2013. MorphoSys now expects revenues of approximately EUR 74 million to EUR 78 million (previously EUR 68 million to EUR 72 million) and an EBIT of EUR 2 million to EUR 6 million (previously EUR -2 million to EUR +2 million).
In the capital increase Celgene will invest EUR 46.2 million to subscribe for 797,150 new shares of MorphoSys at a share price of EUR 57.90 per share. This represents 3.4 % of MorphoSys's registered share capital and a premium of 5.0 % on the share's closing price on August 9, 2013.
MorphoSys developed HuCAL, the most successful antibody library technology in the pharmaceutical industry. By successfully applying this and other patented technologies, MorphoSys has become a leader in the field of therapeutic antibodies, one of the fastest-growing drug classes in human healthcare. Together with its pharmaceutical partners, MorphoSys has built a therapeutic pipeline of more than 70 human antibody drug candidates for the treatment of cancer, rheumatoid arthritis, and Alzheimer's disease, to name just a few. With its ongoing commitment to new antibody technology and drug development, MorphoSys is focused on making the healthcare products of tomorrow. MorphoSys is listed on the Frankfurt Stock Exchange under the symbol MOR. For regular updates about MorphoSys, visit http://www.morphosys.com.
HuCAL®, HuCAL GOLD®, HuCAL PLATINUM®, CysDisplay®, RapMAT®, arYla®, Ylanthia® and 100 billion high potentials® are registered trademarks of MorphoSys AG. Slonomics® is a registered trademark of Sloning BioTechnology GmbH, a subsidiary of MorphoSys AG.
This communication contains certain forward-looking statements concerning the MorphoSys group of companies. The forward-looking statements contained herein represent the judgment of MorphoSys as of the date of this release and involve risks and uncertainties. Should actual conditions differ from the Company's assumptions, actual results and actions may differ from those anticipated. MorphoSys does not intend to update any of these forward-looking statements as far as the wording of the relevant press release is concerned.
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Source: MorphoSys AG via Thomson Reuters ONE
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