Date: 2013-09-18
Type of information: Private placement
Company: Morphosys (Germany)
Investors:
Amount: € 84 million
Funding type: private placement
Planned used: The net proceeds from the transaction will be used by MorphoSys to fund the clinical development of MOR208 and MOR202. The funds will also be used to initiate, advance and/or accelerate the development of other proprietary programs, including advancing of pre-clinical or clinical stage assets into later stages of clinical development prior to licensing.
Others: * On September 19, 2013, MorphoSys has announced that it has raised gross proceeds of approximately € 84 million in a private placement via an accelerated book building procedure. MorphoSys issued 1,514,066 new shares from authorized capital to international institutional investors at a price of € 55.76 per share, which corresponds to the closing auction price on 18 September 2013, one day prior to the launch of the transaction. The offering represents approximately 6.3% of the registered pre-transaction share capital and will bring the total number of registered shares after the issuance to 25,669,444, and was multiple times over-subscribed. The new shares will be admitted to listing on the Frankfurt Stock Exchange following their issuance. The net proceeds from the transaction will be used to fund the clinical development of MOR208 and MOR202.
MOR208 is an anti-CD19 antibody. It has completed a phase 1 study in chronic lymphocytic leukemia and is in ongoing phase 2 clinical trials in non-Hodgkin lymphoma and acute lymphoblastic leukemia.
MOR202 is an anti-CD38 antibody for which MorphoSys has signed a global co-development agreement with Celgene. It is currently in a phase 1/2a clinical trial in multiple myeloma.
Morphosys also intends to use these funds to initiate, advance and/or accelerate the development of other proprietary programs and to finance potential acquisitions of new businesses, technologies or products, including MorphoSys's Innovation Capital initiative, that would complement our business or expand our portfolio.
* On September 18, 2013, MorphoSys has announced the launch of a private placement of up to 1,514,066 new shares to institutional investors in Europe and North America via an accelerated book building transaction. MorphoSys will offer up to 1,514,066 new shares from authorized capital, or up to approximately 6.3% of the registered share capital, to qualified and other eligible investors. The new shares will be issued excluding pre-emptive rights and are scheduled to be admitted to listing on the Frankfurt Stock Exchange following their issuance. Book building will commence immediately. It is anticipated that books will close tomorrow, although the Bookrunners reserve the right to close the books at any time.
Deutsche Bank and J.P. Morgan will act as Joint Bookrunners for the offering. Trout Capital, LLC will act as financial advisor to MorphoSys on the transaction.
Therapeutic area: Cancer - Oncology
