MedNous

Licence income boosts MorphoSys

Friday 3 May 2013

Country: Germany

MorphySys AG increased its revenue by 44% to €16.9 million in the first quarter of 2013 primarily due to a license payment from the purchaser of its AbD Serotec service business. The German company swung into a profit after a year-earlier loss.

Presenting the company’s results to analysts on 3 May, Simon Moroney, the chief executive, said the current year marks a transition for MorphoSys into a purely therapeutic enterprise from a mixed therapeutic and service business. In January, the company completed the sale of its AbD Serotec business to Bio-Rad Laboratories Inc of the US in a deal valued at €53 million in cash. In addition, Bio-Rad paid MorphoSys an undisclosed sum for a non-exclusive license to use the MorphoSys antibody library for diagnostic and research