Date: 2016-11-15
Type of information: Private placement
Company: Morphosys (Germany)
Investors:
Amount: € 115 million
Funding type: private placement
Planned used:
- MorphoSys' development pipeline currently includes110 programs, 28 of which are in clinical development. The funds will allow the company to further support its transition into a late-stage biotech company based on an advancing proprietary pipeline with a clear focus on oncology and selected highly promising programs in inflammation. MorphoSys plans to use the net proceeds from the transaction in particular to:
• fund the further clinical development of MOR208, an anti-CD19 antibody, which is currently in two phase 2 combination studies in diffuse large B-cell lymphoma, one of which is expected to be transitioned into a pivotal phase 3 study next year. In addition, it is intended to start an additional phase 2 combination study with MOR208 in chronic lymphocytic leukemia ;
• fund the further clinical development of MOR202, an anti-CD38 antibody currently in a phase 1/2a clinical trial in multiple myeloma;
• advance MorphoSys's co-development programs MOR106, an anti-IL-17C antibody jointly developed together with Galapagos currently in a phase 1 clinical trial in atopic dermatitis, as well as MOR209, a bi-specific antibody targeting PSMA and CD3, jointly developed together with Aptevo Therapeutics (formerly Emergent BioSolutions) in castration-resistant prostate cancer;
• start clinical development of MOR107, a constrained peptide with potential in fibrotic diseases developed by Lanthio Pharma, a wholly owned subsidiary of MorphoSys;
• 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;
• fund potential in-licensing of oncology product candidates and/or acquisition/in-licensing of additional technologies.
Others:
- • On November 15, 2016, MorphoSys announced that it has raised gross proceeds of approximately € 115 million in a private placement via an accelerated book building transaction. MorphoSys issued 2,622,088 new shares from authorized capital to institutional investors in Europe and North America at a price of € 44.00 per share. The offering represents approximately 9.9% of the registered pre-transaction share capital and will bring the total number of registered shares after the issuance to 29,159,770. The new shares will be admitted to listing on the Frankfurt Stock Exchange following their issuance. Deutsche Bank and J.P. Morgan acted as Joint Bookrunners for the offering. Trout Capital, LLC acted as financial advisor to MorphoSys on the transaction.
Therapeutic area: Cancer - Oncology - Inflammatory diseases
Is general: Yes
